Income Tax Return Of Private ITI
ATUL Y (574 Points)
12 September 2020
How to file Income Tax return of private ITI having gross turnover of rs 30lakh?
9 Replies
Pankhuri Agrawal
(Chartered Accountant)
(412 Points)
Replied 12 September 2020
please elaborate your query. do you want to know the rate applicable or the itr form?
ATUL Y
(574 Points)
Replied 12 September 2020
Which ITR form I have to choosne at the time of filing of ITR? Brief the procedure of filling.
Pankhuri Agrawal
(Chartered Accountant)
(412 Points)
Replied 12 September 2020
you will have to file itr 7 if it is for an education institution
Pankhuri Agrawal
(Chartered Accountant)
(412 Points)
Replied 12 September 2020
you may go through the following link for better clarity.
https://cleartax.in/s/itr7
ATUL Y
(574 Points)
Replied 12 September 2020
Let me clear
1) As it is not registered under 12AA so it is not a charitable institute/collage/ school.
2) It's a profit making business.
So my question is to whether it will be right to file ITR in the capacity of sole proprietorship by choosing ITR 4?
1) As it is not registered under 12AA so it is not a charitable institute/collage/ school.
2) It's a profit making business.
So my question is to whether it will be right to file ITR in the capacity of sole proprietorship by choosing ITR 4?
Pankhuri Agrawal
(Chartered Accountant)
(412 Points)
Replied 12 September 2020
yes, you can file itr 4 under presumptive income
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