ITR Form

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Which ITR to be fill up for Pathological Labs?(Lab is Sole Properitorship).
Replies (3)
You can use ITR 3

ITR 4                           

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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