Tax implication on individual advisory income

You can treat it as PGBP and show the profit after expenses. 

If i show in PGBP as profession or business income. What if expense part are zero. All receipts are part of profit. How we save tax on this income? 

Q.2 Whether 50% income criteria apply? Is Mr. "X" require to open a firm or not?

mere providing advisory services doesn't come under profession. Its a business unless the person is a professional by himself. 

If he is a professional, then adopt Section 44ADA and offer 50% or more as profit

If he is not a professional, then treat it as a business and offer u/s 44AD, and offer a profit of any percentage that you seems appropriate, but more than 8%

Thanks for elaborative answer.
Below some doubts related to above.

Q.1 Whether Mr. "X" have to open a proprietary firm for his business or no registration part required? Or he run without any registration in individual capacity?
Q.2 Here professional word stands for his qualification or Job?

According to me, there is no need for opening a firm . You can show your business income in the individual capacity.
I would like to correct Ms. Vaishnavi. If we are showing income under section 44AD, then profit percentage should be atleast 8%. There is also a provision that if all your receipts are digital(received in bank) you can show a profit of 6% on your gross receipts.

Okay Manpreet. Just have little confusion.

If this is not profession and and we shows Mr. "X" income as business (Individual Capacity). And you are saying that no need to open a firm?
Is Gst provision connects this and if yes then above 20lac turnover in business firm need to be registered. PLease clarify

Yes. According to me, as your business income is more than 20 lacs , you need to obtain GST registration. But its not necessary to open a firm for it. An individual can also obtain GST registration.

Thanks @ Manpret 

Hi All,

I have few question from above related question please answer. Mr. X has no advisory formal knowledge and not having degree of such.
I give overview here, Mr. X earning 20Lacs from advisory services with expense of 1lacs only.
 All money received directly to bank account and 19lacs is in his bank account.

If we show income of Mr.X as business income in Sec 44AD under atleast 6% of profit.

Suppose i show 10% of profit, i.e 2,00,000 as profit (20Lacs * 10%). My income as per income tax act is only ₹2,00,000 but my bank reflecting 19lacs ? How it looks correct? Waiting for response