Queries relating to income tax

This query is : Resolved

VINAY SACHDEVA (Querist)
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09 August 2014 1. How much Net Pofit is required for a
General Insurance Agent in case of non
Books of Accounts.

2. Can a Taxpayer is Fill Profit & Loss and
Balance sheet as well as non Books of
Accounts income when he filling his ITR
4 while he has income from 2 Business
as General Insurance Agent as as a
Retail Shopkeeper.

Sir, Plz. solve my Queries as early as possible.

Vinay Sachdeva
Saharanpur (U.P.)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 August 2014 1. There is no fixed ratio. Just offer your actual profit;

2. no. if you are covered under books case, then you need to file profit p&l and balancesheet. You cannot fill both the options.