Can I show net profit less than 50 % on gross receipt income from coaching classes & tution??
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Income from tuition
Replies (6)
income by way of profession. Under 44ad you should show a minimum 50% profit.
can I show less than 50 % on gross receipt ?
you can show your gross profit less than 50% under section 44ADA, But in that case You Need To Maintain Books and Make Them Audited.
coaching classes is not professional income it's come under service sector.
Mr. Gonarkar is very write it's not a profession.you can claim it u/s. 44AD.
private tuition is not a specified profession u/s 44ADA, so here nothing like 50 %.profit claiming..
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