Books and Stationery Traders File Their ITR
The specific category under which books and stationery traders file their ITR is “Profit and Gains from Business or Profession”.
This is the default category for all businesses, and it is also the category that most books and stationery traders will fall under.
However, there are some cases where books and stationery traders may need to file their ITR under a different category.
For example, if a books and stationery trader also sells other goods, such as food or clothing, they may need to file their ITR under the “Retail Trade” category.
Ultimately, the specific category under which a books and stationery trader files their ITR will depend on the specific facts and circumstances of their business. If you are unsure of which category to file under, you should consult with a tax advisor.
Here are the ITR forms that books and stationery trader can file:
1. ITR-1:
This is the simplest ITR form and is suitable for most individuals and small businesses with a simple tax return.
2. ITR-2:
This form is more complex than ITR-1 and is suitable for businesses with a more complex tax return.
3. ITR-3:
This form is for businesses that have income from a speculative business, such as intraday trading.
4. ITR-4:
This form is for businesses that have income from a profession, such as doctors or lawyers.
5. ITR-5:
This form is for businesses that have income from a foreign source.
To visit: https://www.incometax.gov.in
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