Itr 4 or 4 s

ITR 1040 views 4 replies

Dear Expert,

My Four clients  Commssion income all refund case.

i wrongly filed ITR 4S how can solve?

I REVISED TO ITR 4 OR LEAVE IT this case

 

PLS. URGENT

Replies (4)

ITR 4S is for business income where adhoc income is declared without maintanance of books of accounts ( ref 44AD)

ITR 4 is for business income ( regular) with regular books of accounts.

what did u select in the business code ?

if suppose u have selected "commission" related code then u have to file revised return by filing the same in ITR-4 because your return will not be processed since u have selected wrong form i.e. 4S instead of filing ITR-4.

but suppose if u have selected business code which is elgigble for 44AD then no need to do anything u will get the refund if refund if TDS is for lesser amt. say less than 25000/-.

i have also filed many returns of my clients having commission income but selected business code 0404 which is eligible and got the refund.

note: This is out of my practical experience and may/may not hold true in your case. others opinion are also awaited.

You should Revised the Return.................

I am Also Confused on this point, My client Has A business of Commission On SAle Of Recharge Vouchers, & co. has deducted t.d.s of rs 43000 as t.d.s on commission. Please suggest which form should be selected to file ITR. & what will be the limit of tax audit in this case

 


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