01 July 2012
Sir/Madam, please help me for how to pay IT for firs time.I have Driving School newly opened i don't have knowledge how to pay income tax. Please Help what should do for that. Amar Motor driving School,aurangabad. 9404485485
Guest
Guest
(Expert)
01 July 2012
Sir, you should contact a CA and file your income tax return. If your income from the business after deduction of expenses exceeds 180000, you will be liable to pay tax.
02 July 2012
Dear Mr. Amardeep, first find out your Income from your business. If your income for the previous year exceeds Rs. 180000/- after deducting all your expenses then you are liable to compulsory file the return otherwise not. Now you can also file your return volunrty in ITR-4 as income from business or profession. I suggest to contact a tax consultant for the same. Thanks
CAclubindia
