Which itr form will be used .....?

ITR 671 views 5 replies

Hi All,

I want to file return u/s 44AD but the party has income from more than one house property also, then which ITR form will be applicable for filling such return or i can't file ITR u/s 44AD with income from more than one house property.

Kindly help in this regard

 

Thanks

Replies (5)

Hello yogesh

You are not allowed to file return u/s section 44AD as

ITR-4S is not applicable if income is derived from

  • More than one House Property
  • Winning from lotteries/horse races
  • Capital gains not exempt from tax
  • Agricultural Business in excess of Rs. 5000
  • Speculative Business
  • Losses to be carried forward

 

So you have to file ITR 4 for the same

Thanks Sourav

But the party has bussiness income and dont have any book of account. what should be done in this situation?

Still ITR 4 is appliacble

If your not liable to maintain books of accounts than you can file ITR 4 .

In sch B/s and p/l  at the end you will find an option for no accounts maintained

Thanks Sourav

 

Hey Dude

Remember in any problem ITR-IV is treated as best solution.

you may use ITR-IV


CCI Pro

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