Income from tours and travels
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2012
WITHOUT P&L ACCOUNT I.T.R. HAS TO BE FILED UNDER WHICH SECTION FOR THE ASSESSMENT YEAR 2011-12 IF BUSINESS IS OF TOURS AND TRAVELS AND AT WHAT PERCENTAGE IS THE TAX TO BE CHARGED???
THANK YOU.
THANK YOU.
HUZAIFA HUSSAIN
(Expert)
29 March 2012
if the gross turnover is less than Rs.60.00lakhs, than return can be filed in ITR-4S for AY 2011-12. Income @8% as per section 44AD is to be declared on Gross Receipts.
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