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44ae

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Is there au andit requirement u/s 44AB if Gross receipts exceed 1 crore and return filed under section 44AE in case of transporters. ITR when filing is not taking return form 4S but beacase there is agriculture income of more than 5000 its taking return form 4. Please help urgently
Replies (5)

1. Income u/s. 44AE can be declared in ITR 4, under no books of account maintained.

2. If the assessee eligible as per the conditions of the section 44AE, and declares minimum income of 7500/- PM per goods vehicle, no need for books of accounts and NO QUESTION OF TAX AUDIT.

But sir since there is agriculture income of 1 Lakh, this particular return is getting filed under itr 4 and not 4s...and that's why while uploading there is error coming up in e-filing website that since gross receipts exceed 1 crore there is audit requirements...pls suggest

" since gross receipts exceed 1 crore..."

Is this the figure filled in item 53a for No account case in Schedule P & L of ITR 4?

yes sir in item no 53a gross receipts is entered over 1 crore...what to do

Better write to Jurisdictional ITO for the same and request to accept the ITR 4 manually, unless the same gets uploaded without the declaration of TO.


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