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can i file itr 4 for coaching business

Others 806 views 4 replies
income below 3 lakhs turnover 16 lakh
Replies (4)
yes you can opt 44AD and can file itr 4 accordingly
ok sir thanks .
welcome. follow me on twitter for more updates @ cabhaviksoni
your Turnover is less than 2 crores.. you can file ITR 4 as Presumptive Return U/s 44AD and must show at least 8%of turnover (6% in certain cases)as Business income and no need to maintain books .. once you file Presumptive return current year then you must file ITR 4 for next 4 years.. if you fail to file ITR 4 for continuously 5 years then Tax audit U/s 44AB is applicable as well as liable to maintain books of accounts U/s 44AA.. so be careful while filling Return 


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