Regarding itr 4s
I have 2 cases:
1. A case having receipt from advocate profession is 7.10 Lacs. No any books of accounts are maintained and profit shown more than 8 % of receipt. Can I file the ITR 4s only providing the amount of receipt, Net profit after claiming expenses. Although statement of income and expenditure & Balance sheet prepared and kept for record purpose.
2. A house wife is running embroidery business and having sales 7.50 lacs in 2014-15 and filled ITR4s, but in 2015-16 the receipt of business considered only Rs. 3.50 lacs approximate (due to she do not want to carry the same business and enter in free lancer tutor in coming years) and generate the tuition fee approx 0.70 lacs in first year. In this regard I have to clarify:-
a) I want to file ITR 4s showing business receipt 3.50 lac and other income rs. 0.70 of tuition fee.
b) no books of accounts are maintained and only income and expenditure statement & Balance sheet prepared for record purpose in which a residencial property in my name.
c) Next year I will show tuition fee as a business income because embroidery business will shut.