Tution income and butique dress disine
This query is : Resolved
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 ?
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.
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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" ?
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
Cash book
Ledger
Journal
Original bills for expenses exceeding Rs.50 and payment vouchers for petty expenses
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