I HAVE A SMALL GOLD & SILVER JEWELRY SHOP INCOME UNDER 50 LAKH SHALL I FILE ITR 4 PRESUMPTIVE BASIS U/S 44AD..?
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INCOME TAX
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Yes, you may opt for Section 44 AD if total turnover not exceeds 2Cr in FY.
Section. 44AD is applicable to Individuals, HUF and Partnerships firm only.
Turnover limit for 44AD is 2 crore.
if your Turnover is more than 2 crore than you can not file return under section 44AD.
So, in your case ,you can file your return in ITR 4 u/s 44AD as turnover is less than 2 crore.
Turnover limit for 44AD is 2 crore.
if your Turnover is more than 2 crore than you can not file return under section 44AD.
So, in your case ,you can file your return in ITR 4 u/s 44AD as turnover is less than 2 crore.
I agree with Sagar Patel 👍
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