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ITR 4 V/s ITR 4 Sugam

CA Ashwani Agarwal (Practice) (3049 Points)

19 May 2011

Dear all,

There is a big problem with the printing out of the SUGAM forms as it has to be printed in the specified colour.

But in my personal opinion, we can still fill ITR-4(normal) for persons declaring income u/s 44AD and e -file it or manually submit it as per our need as the old ITR-4 still has all the coloumns.

So i think that it is at the option of the assessee to file his return in either of the Forms.

Please discuss.

Regards

CA Ashwani Agarwal

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5 Replies

SAHIBE ALAM (job) (21 Points)
Replied 25 May 2011

If a person neither a contractor nor declaring income u/s 44AE then which ITR (ITR-4 or ITR-4S) filed

jay rajendra damaniya (prop) (23 Points)
Replied 25 May 2011

one of the individual dealer having wholesale business for assessment year.2011-2012,turnover approx rs.3000000 & net profit rs.115000,shall he file itr4 or itr4s?will he liable for tax audit?

and in the above case if his profit is above 8%,say rs.241000,will he liable to file in itr4s.

ankur bansal (CA Final) (student) (124 Points)
Replied 29 May 2011

@ jay rajendra damaniya...

(its compulsory to declares profit 8% or more on turnover if no audit ) itr 4s being filed.

if wants to show profit less than 8%.. audit by practicing chartered accountant wil be compulsary

CA. Dashrath Maheshwari (TaXpert) (15090 Points)
Replied 10 August 2011

ITR-4: ITR-4 form will be used for Individuals and HUFs having income from a properietory business or profession for the Assessment Year 2011-12 as per Rule 12 of the Income Tax-Rules,1962)

ITR-4S (SUGAM): This form will be used for submitting online Indian Income Tax Return for Presumptive Business Income Return. for the Assessment Year 2011-12 as per rule 12 of the Income Tax-Rules 1962.