Hi, here goes a little introduction about my Business. I work as a Self-Employed software developer from my Home. All of my clients are from other countries. In every months I earn near about Rs.4 Lakh. And in the end of this financial year the Total Receipt value will be Rs.32 - 34 Lakh. And I don't have much expenses in Real. I use 2 savings account to receive all my service payments. I don't charge any taxes to clients. There is no Invoice/Voucher/Bills that I take or give in these transaction.
So, here my questions are:
1. Minimum how much amount of money I have to pay as Income Tax? (An approx. value)
2. What expenses can I show as my Business expenses? I need some idea of some appropriate expenses.
3. Which other things will help me for more Deduction? Please mention under which section.
4. Which form should I Fill: ITR4 or ITR4-S?
Thank you all, who reads this and help me with their valuable advices. Thanks again!
CAclubindia
