Tax@fashion designers
Lakshman kothinti (student) (88 Points)
18 October 2015Lakshman kothinti (student) (88 Points)
18 October 2015
Karthik.V.Kulkarni
(Chartered Accountant)
(594 Points)
Replied 19 October 2015
Miss Rinkal
(Student)
(1304 Points)
Replied 19 October 2015
Fashion designer is a notified profession and books are required to be maintained when the gross receipts in a fy exceeds 150000 in all the 3 preceding previous years. However in case of a newly set up profession, if in the previous year, gross receipts exceeds 150000, then books are required to be maintained. Also presumptive taxation is not available to notified profession and hence no question of filing itr4s.
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