Anon
watch_later 28/07/18

Solution Plz....

 

One of my client having actual T/over from Transport Business of Rs 1.80 Crore (as per bank records) along with Capital loss on sale of Shop, & willing to file his Return under Sec 44AE (he is showing higher than prescribe income u/s 44AE with less than 10 vehicles),, so that no Tax Audit will required..., Although Presumptive Income sec 44AE comes under ITR 4 (AY 18-19), but my software prescribe  ITR 3 due to having capital loss, along with P& L / Balance Sheet details (under "No complete sets of Accounting Records are Maintain") , my query is whether showing Income under ITR 3 will required Tax Audit or not as Income is above Rs 1 Crore but below Rs 2 Crore. 

Immediate Response is Highly Appreciated... 

1 Response | Latest response: 29/07/18 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 29/07/18

I hope it can be ITR 4 since this is what is prescribed for presumptive income.

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