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Regarding itr 4 form
Kindly Go Through Section 44AA of Income Tax Act 1961
Yes, I have already been read section 44AA but not clear about such aspects & i have confusion on that point.
Is this for profession or business? If profession specified or non-specified.
Its not specified Profession those include in 44AA(1) of income tax act.
As explained by you, Assessee is not engaged in specified profession,
hence, provision in respect of rule 6F (prescribed books of accounts) is not applicable.
"Situation-1 - If i show gross reciept of rupees 11 laks and net profit of rupees 118000.
2nd Situation- If i show gross reciept of rupees 9 laks and net profit of rupees 224000"
In both situation, as mentioned above, Assessee is required to maintain such books (not according to section 44AA)
of account and documents as may enable to Assessing officer to compute income as per income tax act
if your business/activity is cover under section 44AD, then file your return in ITR -4S
I agree with Dinesh. If any one of the criteria is satisfied (i.e. turnover/receipt or income), then books to be maintained to enable AO to compute income (but not as per rule 6F).
Thank you Sir
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