Filing of income tax return in Form 4

[KERAGODEGOPALARAO ANANTHARAO]

Ours is a real estate firm, purchasing land converting in to sites, sales to prospective customers.

During the year 2019-20 pertaining in to AY 2020-21 the sales was less than 2 crore, hence return is filed under presumptive tax more than 8% and filed in Form-4.

Is it correct sir?

[DR.MARIAPPAN GOVINDARAJAN]

ITR - 4? Have you not maintained books of account?

[KERAGODEGOPALARAO ANANTHARAO]

Books are maintained Sir

AI Summary

Presumptive taxation: real estate firm filed ITR in Form four for turnover below threshold; queries correctness.
Whether a real estate business selling converted sites may file an ITR in Form 4 under the presumptive taxation scheme where annual sales are below the turnover threshold; taxpayer filed under the presumptive rate and queried correctness. The forum exchange records that books of account are maintained, which is the sole confirmed procedural fact relevant to the filing choice.