A person has a small medical shop having annual turnover of 5 - 6 lakhs. Its a proprietrship busniess. Do he need to file his return in ITR 4 or ITR 4S.
A person has a small medical shop having annual turnover of 5 - 6 lakhs. Its a proprietrship busniess. Do he need to file his return in ITR 4 or ITR 4S.
Dear according to Sec 44D you may declare profit of more than 8% and ITR form 4S should be filed but if u want to declare profit of less than 8% than you have to maintain books of account and get thm audited.
According to your query you are not preparing books of accounts and your Net profit is more than 8% of total receipt than you have to file FORM 4S
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