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Regarding itr 4 form

sahil (kvkebke) (36 Points)

18 July 2016

R/Sir/Madam I have an doubt on ITR 4 form and doubt is regarding four colloum i.e. assesse has an option to fill only four colloum in case of non- mainatainance of books of account. 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. Then in such cases section 44AA is applicable on assesse or not applicable in ITR-4 form. Thanks

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7 Replies

CA Mehul Chudasama (Chartered Accountant) (618 Points)
Replied 18 July 2016

Kindly Go Through Section 44AA of Income Tax Act 1961

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sahil (kvkebke) (36 Points)
Replied 18 July 2016

Yes, I have already been read section 44AA but not clear about such aspects & i have confusion on that point.

CMA Poornima Madhava (CMA) (13112 Points)
Replied 18 July 2016

Is this for profession or business? If profession specified or non-specified.

sahil (kvkebke) (36 Points)
Replied 19 July 2016

Its not specified Profession those include in 44AA(1) of income tax act.

Dinesh Mertiya (PROFESSIONAL) (761 Points)
Replied 19 July 2016

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

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 19 July 2016

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).