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Income from business

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(Querist)
30 July 2013 Dear experts ,

My sub contractor(Individual) done the work for rs.25,00,000/- for the F.Y.2012-13 , we have deducted TDS@1% from his bill amount and deposited to govt Account .

Kindly suggest us that what is process for him to submit IT Return and what his gross total income / taxable income.


thanks
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
01 September 2013 Need to file ITR-4S and as business income . claim presumptive profit 8% on gross receipt u/s.44AD
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