Income tax filing

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Dear All,

 

If Proprietorship firm proprietor business turnover for the FY 2017-18 Rs 9,00,000/- including GST taxes.

Under income tax act which ITR suitable for his business?

 

Replies (4)

Can choose ITR4 equivalent......

Sir,

 

Thank you.

what is the diiference between ITR 4 and ITR 4S.

If i choose ITR 4 what are the particulars to be filled?

 

 

If i choose ITR 4S what are items shown in the ITR Form.

the proprietor sales and Purchases are almost equal ( i.e sales turnover is 8,80,000 and purchases turnover is 9,50,000/-) in that case which option is suitable for us.

If ITR - 4s tax liability only 8% of the Gross receipts?

then ITR - 4 what is the tax rate? 

 

kindly advice us

ITR 4S was for AY 2016-17..... the same ITR was identified as ITR4 for AY 2017-18.....

& same/its equivalent is suggested for you for AY 2018-19.....

Yes, you have to declare minimum 8% profit over Gross Turnover, under presumptive scheme.

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