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ITR Form

Dipam Guha Thakurata (148 Points)

20 August 2018

Which ITR to be fill up for Pathological Labs?(Lab is Sole Properitorship).

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Jatin (Accountant) (3479 Points)
Replied 20 August 2018

You can use ITR 3

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Sarath Rajendran (Nil) (2791 Points)
Replied 20 August 2018

ITR 4

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CA P V N Varma (CA ) (609 Points)
Replied 20 August 2018

you have 2 options
1) file ITR 3 as Business return and maintain books of accounts U/s 44AA (or )

2) if your Turnover is less than 2 crores file ITR 4 as Presumptive Return U/s 44AD and must show at least 8% of turnover as Business income and no need to maintain books .. once you file Presumptive return current year then you must file ITR 4 for next 4 years.. if you fail to file ITR 4 for continuously 5 years then Tax audit U/s 44AB is applicable as well as liable to maintain books of accounts U/s 44AA so be careful while filling Return

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