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Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 May 2015 My father took a contract from a private company. The company credits around 2.5 lakh/month in which 80% will be paid to labours as their charge. In this case how we have to file income tax or returns
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 May 2015 you can prepare return under section 44AD and offer 8% as profit. alternatively, in case net profit is less than 8%, prepare books of accounts and file ITR4.
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