Can we show more than 8% income in ITR 4s?
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Can we show more than 8% income in itr 4s?
Replies (3)
Yes, the limit is on lower side; no upper cap.
Now my question is.. If we can show more than 8% as our profit from business in 4S,then why people choose ITR 4 (except Tax Audit) instead of ITR 4S
ITR 4S has some limitations, like only one house property, no partnership remuneration income, agricultural income less than 5K etc. etc. In that connection ITR 4 is universal, any individual can file.
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