Beauty parlour under income tax

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students
43 Points Posted on 23 February 2020
what is category of a beauty parlour under the income tax act, 1961 for presumptive income purpose??
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On 23 February 2020 at 15:46 Report
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A beauty parlour is generally treated as a business for income tax purposes and may opt for presumptive taxation under Section 44AD if eligible. The applicable business code is 21001 - Hair dressing and other beauty treatment. ITR-4 can be filed where the conditions are satisfied.

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Manger Accounts & Finance
363 Points Posted on 23 February 2020
Income from Professional.
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On 23 February 2020 at 20:51
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17269 Points Posted on 25 February 2020
It may be under OTHER PROFESSIONS (Other than prescribed for 44ADA)

So you can go for 44AD presumptive tax for Beauty Parlour income
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On 25 February 2020 at 00:22
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Tax and Business Consultant
11616 Points Posted on 24 August 2020
You can File ITR 4 by opting presumptive Taxation scheme.
Presumptive Taxation u/s 44AD is applicable in your case declaring 8% or more profit.
Choose No books of accounts case
business code : 21001 Hair dressing and other beauty treatment
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On 24 August 2020 at 20:43

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