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Income from profession

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2017 Dear Sir/Madam

I want file a ITR for a person, his income comes under "Income from Business and Profession" head . He is not maintained books of accounts. Here Computation of Income required for him

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Sumeet

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Sumeet (Expert)
05 December 2017 Hello,

If a person has income under the head Profit and Gain from Business & Profession and books of account is not maintained by him, return can be filed by showing net profit as minimum 8% of Gross Receipts in case of Business (Section 44AD) or 50% of Gross Receipts in case of Profession (Section 44ADA).
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2017 Thank you Sumith Sir ................
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