20 June 2016
Dear Expert, My client was so far submitting i.tax return under section 44AB for the last 12years and accordingly tax audit was conducted and ITR 4 was submitted upto the accounting year 2014-15. Now in the accounting year 2015-16 sales dropped to 25 lakhs and accordingly i can opt for the ITR 4S under section 44AD and declare 8% profit on said turnover of Rs.25 lakh. Now my question is whether I can use ITR 4S under section 44AD in place of ITR 4 under Section 44AB Which my client used so long. Please help. Thanking You, Yours Faithfully, Debabrota Roy.