28 November 2012
PLEASE, check before i go for file presumptive basis... in ITR-4S. P.Y-2011-2012 GROSS SALE: per day 3600*26= 93600 per month 93600*12=1123200 8% of 1123200= 89856 taxable income=89856 Therefore, tax payable = NIL
AM I RIGHT OR WRONGH I AM NOT DEDUCTING SALARY OF 60000/PA HOME RENT 7800/Pa AND ELECTRICITY BILL AND OTHER MIS. EXPENSES.
28 November 2012
Yes, u are right. No expenses allowable under presumptive tax basis.
However in case of partnership firm, the remuneration to working partners and interest on capital shall be allowed and deducted subject to prescribed limit.
28 November 2012
Respected Madam, Are eaten Chat and Pani-Puri (GOL-GAPPE), this is on thelaa (rahdee) i means four wheel rahdee, got it please tell now , is this income is taxable or not and chosen code is right
CAclubindia
