partnership ke liye konsa itr bharna hai ? turnover 1 cr se kam hai aur accounting bhi nahi hai
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Quick Summary
This discussion explores the correct Income Tax Return (ITR) form for partnership accounts with a turnover under £1 crore and no formal accounting. It covers the applicability of presumptive taxation under Section 44AD, which allows filing with ITR-4 at an 8% or 6% profit rate. Alternatively, the normal scheme using ITR-5 with books of account is discussed, including considerations for house property details and audit requirements.
You can show your business income as per Section. 44AD under Presumptive Taxation @ 8% or 6% as the case may be if you're doing business which are eligible to adopt presumptive Scheme u/s 44AD. In this case you can file your return in Form ITR 4.
what is your nature of business /business activity.?