Tution income and butique dress disine

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monika (Querist)
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01 August 2016 INCOME FROM TUTION AND DRESS & FASHION DISINE INCOME CAN WE CONSIDER AS OTHER SOURCE INCOME OR IT WILL GO WITH PGBP ?
IF PGBP BUSINESS OR PROFESSION ?

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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02 August 2016 If you do not have any other source of income, the income from tuition and fashion design is considered as income from Business & Profession. Income from fashion design is considered as professional income if it is done through professional degree.

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monika

monika (Querist)
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02 August 2016 ONE MORE QUERY PLEASE
IF ANY PROFESSIONAL HAVE GROSS INCOME FROM PROM PROFESSION RS.195247 EXP RS. 12245 NET PROFIT RS 183002
OTHER SOURCE INCOME 81245
CAN HE FILE IT RETURN WITH OPTION "WHERE REGULAR BOOKS OF ACCOUNT ARE NOT MAINTAIN" ?

CA Amrita Chattopadhyay

CA Amrita Chattopadhyay (Expert)
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02 August 2016 You need to maintain books as your income has increased to more than Rs.150000. You need to maintain the following books.
Cash book
Ledger
Journal
Original bills for expenses exceeding Rs.50 and payment vouchers for petty expenses

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