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U/s 44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 July 2013 When Rs 4,00,000/- profit has been determine U/S 44AD on a turnover of 40 Lakhs which is more than 8% for Ay 2013-14 than which form no ITR to be filed?

ITR form require to give details of P & L & Balance sheet in case profit exceed Rs 1,20,000/- but in this case books of accounts have not been maintained. How can i provide this details?

Pls inform whether these details are require to be filled in the ITR form or not?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
14 July 2013 Then... ITR 4S only has to be used which requires minimum details like Turnover, Net Profit, Sundry Debtors, Sundry Creditors, Stock and Cash in Hand.
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You can show profit higher than 8% of turnover in ITR 4S.
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