I am having a business of Health Services (clinical psychology counselling) and my Income is approximately INR 10 LPA. I am a 28 year old professional. I have filed income tax returns using ITR4 (For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE) for last three years. I am trying to propose a Term Plan for myself with an insurance company which is asking for computation of my income. Can my ITR4 (Sugam) be enough as a documentary evidence showing computation of income, as I do not have the same computed through a CA as my income does not fall in the auditable slab? Thanks for your comments and replies in advance.
CAclubindia
