Tax Related Query

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  1. Devender Yadav

    Devender Yadav New Member

    Hello sir,
    This is Devender and I wanna ask you that this year my dad's annual income is 9.60 lakhs generated from commercial vehicle from OLA.Please tell me whether he should file return or not,Although I am in IPCC but i have started studying taxation subject from last 3-4 days.
     
  2. yes he is required to file return. His income will be taxed under business/ profession. He should file ITR -4. after deductiong all expx incurred. Or alternatively He can file return u/s 44AD ( 8% of turnover ) in ITR -4S i.e 9.6*8%= 76800 will be profit.
     
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