HELLO FRIENDS, CAN ANYBODY TELL ME, WHETHER A PHOTOGRAPHER WHO RUNS A STUDIO CAN FILE HIS INCOME TAX RETURN IN ITR 4S.
WHETHER HE IS PROFESSIONAL OR SERVICE PROVIDER?
IF YES CAN I SHOW 30 % PROFIT IN ITR 4S OR I HAVE TO SHOW 8% ONLY.
PLS. REPLY ME.
THANKS.
A photographer is a professional and you have to file ITR 4 on behlaf of him..
and if his income from such such profession does not exceed rs. 120000/- in all 3 yrs then he is not required to maintain books else you will be required to give p&l details..
CAclubindia
