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Method of return filling

This query is : Resolved 
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(Querist)
31 May 2012 Sir, Kindly let me know the method of computation of income of goldsmith for income tax purpose.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
31 May 2012 The income will be taxable under the head Income from Business or Profession.

The sale price shall be his income and all expenses incurred will be reduced from such income.

However, if the gross receipts/turnover do not exceed Rs. 60 lakhs (Rs. 1 crore w.e.f AY 13-14), he can opt for Section 44AD and show income of 8% of the gross receipts.
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sanjay kumar

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sanjay kumar (Querist)
31 May 2012 Sir, can you send a computation sheet for my knowledge for above mention query.
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