Property Developers and Real Estate Income

[KUMAR Narasimhan]

Dear Sir,

Property developer whose turnover his less than ₹ 20 lakhs can opt for ITR 4?

AI Summary

Presumptive taxation eligibility: property developer with turnover below threshold may be eligible to file ITR-4. Whether a property developer whose turnover is below the prescribed threshold may opt to file an ITR-4 return is the operative question, focusing on eligibility to use the presumptive taxation return form for real estate development when annual receipts do not exceed the turnover limit.