Income

This query is : Resolved

lokesh (Querist)
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01 November 2014 A person take fees from the student for admission in btech/ mba etc .
He paid the fees to the college as per agreement between him and university.

the balance fee become his income.

For ex he takes Rs 50000.00 For admission nd paid to uniersity 25500. The balance become his income 24500.

His gross recipet is Rs 50000 or 24500

If his reciept is Rs 50000.00 then in which coloumn of itr - 4 rs 25500 can be claimed

What is his nature of business nd can he claimed sec 44AD

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2014 gross receipt should be Rs 24500, the fees should be routed through a memorandum account.

nature should be that of a consultant (so put this is under professionals category)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2014 gross receipt should be Rs 24500, the fees should be routed through a memorandum account.

nature should be that of a consultant (so put this is under professionals category)

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