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Income tax

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(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?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 June 2014 forget normal profit percentage, first check whether or not he is required to books under 44AA.
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CA Arjun B

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CA Arjun B (Querist)
17 June 2014 He is required to maintain books under 44AA.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 June 2014 then ask him to maintain books and show the actual profit.
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Rupesh Jain

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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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