01 August 2016
INCOME FROM TUTION AND DRESS & FASHION DISINE INCOME CAN WE CONSIDER AS OTHER SOURCE INCOME OR IT WILL GO WITH PGBP ? IF PGBP BUSINESS OR PROFESSION ?
02 August 2016
If you do not have any other source of income, the income from tuition and fashion design is considered as income from Business & Profession. Income from fashion design is considered as professional income if it is done through professional degree.
02 August 2016
ONE MORE QUERY PLEASE IF ANY PROFESSIONAL HAVE GROSS INCOME FROM PROM PROFESSION RS.195247 EXP RS. 12245 NET PROFIT RS 183002 OTHER SOURCE INCOME 81245 CAN HE FILE IT RETURN WITH OPTION "WHERE REGULAR BOOKS OF ACCOUNT ARE NOT MAINTAIN" ?
02 August 2016
You need to maintain books as your income has increased to more than Rs.150000. You need to maintain the following books. Cash book Ledger Journal Original bills for expenses exceeding Rs.50 and payment vouchers for petty expenses
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