Income tax for individual

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  1. dpnptl

    dpnptl New Member

    I am working from home and getting payment which are directly deposited to my bank account. I didn't register any company not for sole proprietor firm. When i am trying to file a return, it is asking for net profit to enter. So my question is do i need to use any accountant to prepare balance sheet and calculate the net profit? Or i can create a list of income & expense then based on that i will enter the amount i earned? Do i need to specify expenses while filling a return or i need to keep track of the expense for future?

    Thanks!
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    As you are working from home - I'm assuming that your transactions wont be many.

    In such cases, if the person is smart enough - he/she can do the return filing work himself.

    Or you may also hire a Accountant. As the work involved wont be much, he will only charge you a few thousand rupees. The charges wont be much
     
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