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Income tax return

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(Querist)
01 December 2016 sir i have filled itr4 for a.y 15-16 can i file itr4s for 16-17 source of income is contract of painting of building and houses
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 December 2016 Yes, you can file itr4S if your income less than one crore, and you have to declare profit Minimum of 8% gross income.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
01 December 2016 No Problem, you can do so. However, 8% of your total turnover will be deemed to be your income and no further expenses ( 30 to 38 sections of IT Act) will be allowed.
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jaideep

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jaideep (Querist)
02 December 2016 thanks sir
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