Itr 4s (my net income is more than 8%)

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sachin sarjerao mahind (Querist)
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11 January 2012 I computed my profit and loss account, balance sheet .
I am vegetable saller. My turnover is Rs.15 Lakhs. Net Income is Rs. 1,65,000/- . 80C is Rs. 7,000/-. so my income is1,65,000 - 7,000 = 1,58,000/- ( Below Rs.1,60,000/-)
My Question is in itr-4s (sugam) i write the valeu Rs. 1,58,000/- or 8% of Rs.15 lakhs.
and said me why take this amount from above two?

CA Sreenivasa Rao Munaga

CA Sreenivasa Rao Munaga (Expert)
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11 January 2012 You need to write Rs.1,65,000/- and Rs.7,000 should be shown as 80C deductions.

Please let us know if u have any doubts

Thanks,
CA M Sreenivasa Rao.