Which Income tax Form

This query is : Resolved

hanif (Querist)
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16 July 2011 A client of mine is having
1) retail business turnover less than 60,00,000
2 ) Motor car hiring business
he is not maintaining regular books of Account
Now for A.Y. 2011 - 12 Which return he has to file Sugam ITRS -4S or ITR 4
How the balance sheet , and P&L sections will be filled.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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16 July 2011 If the aggregate of both the business exceed Rs. 60 Lakhs, then he needs to get the books of accounts audited u/s 44AB and file return in ITR - 4.

In case the combines turnover is also less than Rs. 60 Lakhs, then no need to get books of accounts audited, if he claims income in excess of 8% of turnover as specified u/s 44AD. In this case, file return in ITR-4s, i.e. sugam

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MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
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16 July 2011 Hi,

In case of capital gain(other than exempted gains), ITR 4S i.e.sugam cann't be used. Considering the above situation, If assessee is having turnover less than Rs.60L and also STCG. He is declaring profit more than 8%, then he has to use ITR 4 only, but my doubt is whether he has to get 44AB report as he is not using ITR 4S?

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