ITR4 when income from salary and trading

Share This Thread
  1. Prasoon Gupta

    Prasoon Gupta New Member

    I have two source of income, salary and trading.
    Salary: Rs 600000

    Trading turnover: 2lac
    Profit: 10000
    Loss: 190000
    Net Profit- -180000

    So finally I turned to loss only, I want to ask do I need to get my account audited or simply file ITR4 without it. Is there any way to avoid audit.
  2. ZED

    ZED Well-Known Member

    Have you claimed S.44AD in past?
    If not then you may file ITR-4 and declare loss without getting accounts audited.

    If you have had claimed the benefit of S.44AD and you do not wish to get the accounts audited, then show profit as 8% of 2 Lacs.
Draft saved Draft deleted
Similar Threads Forum Date
Return by Partner u/s 44Ad in ITR4S instead of ITR4 when there are multiple incomes Income Tax Jun 1, 2017
Bussiness code for ITR4s Income Tax Aug 3, 2017
how to unprotact excel utility of ITR4s Income Tax Jul 30, 2017
ITR4 vs ITR3 for Legal professionals? Income Tax Jul 26, 2017
ITR4 queries Income Tax May 8, 2017