Dear All,
I want to ask whether a person running tuition class under proprietary name, can opt to file income tax using ITR-4S, declaring taxable income as 8% of total income ????
Another angle, What if his total receipt more than 25 lacs ??
Kindly respond.
Thanks.
Imran.
Yes. The assessee is at liberty to declare profits at 8% or more.
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