Comment on Notice under Section 139(9)? - Possible reason

Nithin Kamath commented on 29 Jun 2015, 08:58 AM

I have kind of lost track of your question. If you have only capital gains income, irrespective of what your turnover is, there is no need of audit. Just to reiterate

1. IF no intraday equity turnover or speculative business income, and only capital gains with turnover greater than 1.25 crores use ITR2. No need of ITR4 as you don’t have any business income. ITR2 is if you have salary income and capital gains along with any interest income.
2. If you have intraday equity or speculative business income, you will have to use ITR4.

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