Proprietorship business closing - which ITR to file

Iam Singho (none) (91 Points)

14 July 2011  

My relative had a propritetorship business between April 2005 to March 2010. ITR4 was filed for FY 2009-10. (AY2010-11)

Last financial business (for AY2011-12), no business transaction was carried out.

 

Does ITR4 still need to be filed, or can a ITR1 be filed instead. Total income from other (non-business) sources is less than 1.5 lakhs.

 

If ITR4 needs to be filed, must audit be done ?