Need help in paying income tax for my jewellery shop

When your turn over is less than 5 lakhs, what is your net income? What  other source of income you have?

You need not file ITR if your gross taxable income  doesn't exceed 2.50 lakhs.

Still if you wish, file ITR 4S

hii anuj

if you have jewellery business and have business turnover less than five lac. i request u file the income tax return. you have two option for file the income tax return
first option
if you maintain the complete book of account than file the ITR 4

second option
if do not maintain book of account than file ITR 4S

Dear Sir,

Please help me I want to pay income tax if there will be any on my overall business income.

I got to know that I am eligible for under section 44AD and I don't have to show any records if I opt for 44AD. 

Please let me know what I have to do first as I am doing it first time.

Do I need to fill ITR 4S first or there is any other thing I need to do before that?

And also let me know what are the required documents for this.

Regards,

Anuj 

 

Yes, u file income tax return u/s 44ad with suporting information related business sundry creditor detail, sundry debtor detail, stock detail, and cash & bank detail . This detail is very important for u and ur income tax return.