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Sachin Grover

Sachin Grover (Querist)
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27 June 2017 Assessee is working on a mobile shop on salary basis moreover he purchased around 40 phones online on different dates on his own name as buyer and make payment from his credit card. He sold these phones in cash by providing the same bill which he received to customer. He sold phones at a price which is more than the billed price. Now how to treat this in return???

Amol S Joglekar

Amol S Joglekar (Expert)
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27 June 2017 it is not his regular business, at least for the first year. So he has choice to show the actual profit OR presumptive profit.

Sachin Grover

Sachin Grover (Querist)
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27 June 2017 Which itr form he should fill

Amol S Joglekar

Amol S Joglekar (Expert)
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27 June 2017 if he opts for presumptive...ITR4, else itr 1

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