Which return form

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online

880 Points Posted on 29 November 2022
A shopkeeper having a grocery shop.His annual turnover is 20 lacs.
He wants to file a income Tax return.
Which ITR to be file & which net profit ratio showed
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On 29 November 2022 at 22:37 Report
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Quick Summary
A shopkeeper with a grocery business and an annual turnover of 20 lakh is seeking advice on which Income Tax Return (ITR) to file. The consensus suggests filing ITR 4, as books of accounts are not maintained. It's recommended to show a minimum profit margin of 8% for cash sales/turnover under Section 44AD.

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SEO Sai Gr. Hosp.
212489 Points Posted on 29 November 2022

File ITR 4 with minimum 8% profit margin for cash sales/turnover.

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On 29 November 2022 at 22:50
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online

880 Points Posted on 29 November 2022
Ok Thanks
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On 29 November 2022 at 22:57
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SEO Sai Gr. Hosp.
212489 Points Posted on 29 November 2022

You are welcome ...           

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On 29 November 2022 at 23:08
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Profession
28261 Points Posted on 30 November 2022
Sec 44AD AND OTHER SECTIONS ARE RELEVANT RELEVANT.
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On 30 November 2022 at 15:56
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CFO- at NHTF
58280 Points Posted on 30 November 2022
ITR-3 also can be filed if you have maintained the books of accounts
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On 30 November 2022 at 18:42
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880 Points Posted on 30 November 2022
No. Books of accounts are maintained
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On 30 November 2022 at 21:01
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social
342 Points Posted on 30 November 2022

File ITR 4, no need of books of accounts. Maintain turnover records.

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On 30 November 2022 at 21:05
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CFO- at NHTF
58280 Points Posted on 01 December 2022
If books of accounts are maintained then you can declare actual profit
7 Reply
On 01 December 2022 at 07:20

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