Presumptive Income Tax for Partnership firm running PlaySchool

Share This Thread
  1. Nayan Shah

    Nayan Shah New Member

    My query is, i am running a partnership firm (two partners and not a LLP). We are involved in running a playschool. The total income (receipt from frees) is around 2lakhs per annum (way much less than prescribe 2crore limit).
    Can i file firms income tax return considering Presumptive Income Tax i.e. ITR4S ?
    Is service provided as playschool eligible under this section 44AD or i need to file it compulsary ITR5 maintaining all records.

    Appreciate your opinion.

Draft saved Draft deleted
Similar Threads Forum Date
PRESUMPTIVE INCOME U/S 44ADA Income Tax Mar 11, 2018
Presumptive Income Income Tax Jul 30, 2017
Section 44AE presumptive income from business of hiring goods carriage Income Tax Jul 5, 2017
presumptive income under section 44ad Income Tax Nov 4, 2016
Presumptive Income Income Tax Oct 8, 2016