Which ITR form for individual sole proprietorship AY 2015-2016
Dear Sir/Madam,
I wish to confirm that for a person running an import/export software business and profit is about 7 lakhs under individual name ITR 4 only applies ?
Am I correct ?
Thanks a lot.
Regards
Shanthi
Hello,
ITR 4S has been specifically prescribed for the assessees showing their business income on presumptive Basis and are having Turnover/Gross Receipts not exceeding Rs 1crore.
However, for professionals and persons carrying on business having 1 Crore above turnover , have to file the TAx Audit Report and their return will be filed in ITR4. (Compulsary for audited & optional for Non audited)
You can go for ITR-4 !
Thanks
Regards
Deepak Sharma
| Originally posted by : Deepak sharma | ||
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Hello, |
 |
Thanks a lot. SO I can go for ITR 4 since the persons's income is NOT presumptive business income.
Shanthi
Yes, ! Please go for ITR4
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