194j income tax filing query

Thanks Karthik. What generally are these profession related expenditures? And is there a limit to these expenditures, i.e. 40% of gross income, 50%...

1. ITR 4

2. All expenses related to your profession

3. No, not allowed. But that is applicable in case of salaried employee only. Are you providing professional service or an employee. Clarify that.

There is no limit on the %of expenses. Generally, Professional show around 60% as expenses.

Hi

A software professional earning professional fees for the first time during the previous year, what is the limit for maintaining the books of accounts u/s 44AA and what are the allowable expenses?? In case of maintainance of books what all have to be shown in the balance sheet??

anyone pls reply for the above......

Hi Yajendra, Thanks for your reply. I provide Professional services under 194 J section..