Itr-4 sugam

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B.Com
172 Points Posted on 13 August 2017

if we have filled last year it return in ITR-4S and the proft was near by 57.5% shwon and current year profit comes near by 45.5% than there will be a chance by department to raise the notice or not?

because there are approx 12 % difference in profit.....that's so why i am asking?

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On 13 August 2017 at 17:43 Report
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CHARTERED ACCOUNTANT
46 Points Posted on 13 August 2017
there may be chances for notice but if u have proper reason as to y ur profit reduces like increase expenses... then there is nothing to worry abt tht
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On 13 August 2017 at 17:55
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B.Com
172 Points Posted on 13 August 2017
how much various in % if shown than there will be no problems
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On 13 August 2017 at 18:02
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Proprietor
3429 Points Posted on 13 August 2017
section 44AD provides to declare the pressumetive income 8% or more on gross receipt thus if u declare any income more than 8% the chance of inquiry will be very very less bcoz in your case u have declared much more income than required. So dont worry
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On 13 August 2017 at 18:28
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CHARTERED ACCOUNTANT
46 Points Posted on 13 August 2017
yes right agreed with ramesh d
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On 13 August 2017 at 19:22
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B.Com
172 Points Posted on 13 August 2017
thanks rameshbhai i am agree with you
but my point is that last year profit was 57% and this year profit comes 45%
so point is difference comes 12 % which will effect or not...
thanks
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On 13 August 2017 at 19:38
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CA Final
363 Points Posted on 14 August 2017
There are many factors to be considered by ITD for Sending notice for assessment like Turnover, Tax audit or not, Net profit %, etc. What ever May the instances if u can substantiate with proper disclosure during assessment there is nothing to worry about.
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On 14 August 2017 at 00:43
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B.Com
172 Points Posted on 14 August 2017
ok....thnks everyone
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On 14 August 2017 at 05:58

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