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Sole proprietor

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08 April 2012 Hi I am Sole Proprietor. My Annual Income is 150000/- Pls. tell me which itr form fill me and my Balance Sheet be made
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
08 April 2012 You should use ITR 4.
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
09 April 2012 You need not prepare your balance sheet if you are not maintaining regular books of account.
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Better file your return u/s 44AD i.e. presumptive taxation by showing 8% as net profit if your turnover is less than Rs.60 lacs.
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If this is applicable to you; you can file your return 4S.
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In this return you have to show your total of sundry debtors, creditors, stock and cash.
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