Income tax filing for self managed business
Sudip (Engineering) (24 Points)
27 July 2016Sudip (Engineering) (24 Points)
27 July 2016
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 27 July 2016
In order to claim the expenses such as driver's salary, maintence etc, you need to maintain bills/vouchers etc when you make payment. No need to attach these bills etc with income tax return. You need to do so only when asked by IT authorities to furnish the same. You need to register with Service tax dept if the turnover exceeds ₹9 lacs. Your PAN card can be used for the purpose of proprietorship business.
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