Income tax
This query is : Resolved
CA Arjun B
(Querist)
17 June 2014
One of the client for income tax return is engaged in profession of coaching and earning the income from it. For Income tax purpose what would be the normal percentage of profit to be shown as income.He doesn't maintain books for expenses?
Nikhil Kaushik
(Expert)
17 June 2014
forget normal profit percentage, first check whether or not he is required to books under 44AA.
CA Arjun B
(Querist)
17 June 2014
He is required to maintain books under 44AA.
Nikhil Kaushik
(Expert)
17 June 2014
then ask him to maintain books and show the actual profit.
Message likes :
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Rupesh Jain
(Expert)
17 June 2014
he have to maintain the books of accounts and then he can file his income tax return.
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