Opinion Of Eminent Legal Luminaries On Controversial Issues

Under Which Form ROI Be Filed In Case Of Presumptive Taxation?

QUERY: ‘A’ runs TV repair shop. His gross receipt are Rs. 1,80,000/- and net income is Rs. 1,35,000/- more than 8% of the gross receipts. So section 44AD of the Act is applicable to him. Can he file ITR 4-S, for the assessment year 2011-12?
ANSWER: Yes, he can file ITR 4-S, as section 44AD is applicable to him. Tax audit requirement would not apply in respect of business covered under section 44AD of the Act who has opted for presumptive taxation.
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