Tax audi for itr 4 (presumptive income)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2018 Solution Plz....

One of my client having actual T/over from Transport Business of Rs 1.80 Crore (as per bank records) along with Capital loss on sale of Shop, & willing to file his Return under Sec 44AE (he is showing higher than prescribe income u/s 44AE with less than 10 vehicles),, so that no Tax Audit will required..., Although Presumptive Income sec 44AE comes under ITR 4 (AY 18-19), but my software prescribe ITR 3 due to having capital loss, along with P& L / Balance Sheet details (under "No complete sets of Accounting Records are Maintain") , my query is whether showing Income under ITR 3 will required Tax Audit or not as Income is above Rs 1 Crore but below Rs 2 Crore.

Immediate Response is Highly Appreciated...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 July 2018 Showing Income under ITR 3 will not required Tax Audit opt 44AE in ITR 3.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2018 Thanks Sir ... Got it

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