Private tuition classes can opt for 44ad

ITR 629 views 1 replies

Dear All,

I want to ask whether a person running tuition class under proprietary name, can opt to file income tax using ITR-4S, declaring taxable income as 8% of total income ????

Another angle, What if his total receipt more than 25 lacs ??

Kindly respond.

Thanks.
Imran.

Replies (1)

Yes. The assessee is at liberty to declare profits at 8% or more.


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