Income Tax for Self Employed
What is Business Income Tax Return?
It is a statement of Income, Expenses, Assets and liabilities. Assessee shall need to file Business ITR if his taxable income is crossing Rs.2,50,000/- While filing Income Tax Return, Assessee needs to disclose his turnover, expenses and derive the actual profit during the financial year along with assets and liabilities statement as on relevant financial year end.
Who and all need to file Business Income Tax Return?
- Sole Proprietor
- Partnership Firms
- Private Limited
How RCCO Files?