Comment on Taxation Simplified

seenu.ii commented on 01 Aug 2013, 04:15 PM

Dear Nithin,

I met 2 CA guys to get my tax filing done. What they are saying is, for the trading F & O trading,
ITR 4 should be used for the cases whose profits are less than 8% or turn over more than 1 crore and whose books must needs to be audited.
ITR4-S should be used for the people whose books need not be audited(i.e turnover < 1crore and profit is more than 8%)
I have bit confused now as u said, for trading f & o business ITR 4 only to be used.

Please Clarify..
Best Regards,
Srinivas

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