ITR 4 V/s ITR 4 Sugam

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CA Ashwani Agarwal

Practice

2512 Points Posted on 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

Replies (5)

SAHIBE ALAM

job

22 Points Posted on 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

25 Points Posted on 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

128 Points Posted on 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

12483 Points Posted on 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.