U/s 44ad

This query is : Resolved

Querist : Anonymous

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?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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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