Itr
This query is : Resolved
30 March 2016
Sir i am an individual and i have filled ITR 4 two times on that time my income was below the exemption limit but this time i want to file ITR 4s for F.Y 2015-2016 is it will be ok and adding further more is it necessary to maintain the books of accounts in ITR 4 if his income is below the exemption
Murtaza I Bhagat
(Expert)
30 March 2016
There is no rules that every time used to filed same ITR. its depends upon situation. ITR 4S and ITR 4 both can file if your Taxable income is above 8%.
CA Darshan
(Expert)
30 March 2016
If you are showing Net Profit minimum 8% of turnover then it is not mandatory to maintain books of accounts. You can file ITR - 4S.
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