Wheather itr 4 or itr 4s
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 December 2011
Dear Experts,
PLz advice which form i filed ITR4( under no account Case) or ITR 4S if Assess has Total receipt/tourover RS 750000 and net profit is 120000.
What is difference between both itr's
PLz advice which form i filed ITR4( under no account Case) or ITR 4S if Assess has Total receipt/tourover RS 750000 and net profit is 120000.
What is difference between both itr's
Aijaz Shaikh
(Expert)
25 December 2011
ITR 4S is for the person not maintaining books of accounts and difficulty in calculating net profit and hence declaring net profit of 8% of gross receipts on presumptive basis.
ITR 4 is for the person maintaining books of accounts.
Conclusion:-
If you are not maintaining account then how you get net profit.
If you have to declare profit of more than 8% you have to fill ITR-4.
ITR 4 is for the person maintaining books of accounts.
Conclusion:-
If you are not maintaining account then how you get net profit.
If you have to declare profit of more than 8% you have to fill ITR-4.
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