ITR4 when income from salary and trading

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  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.
     
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