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P&L is not required to filed for ITRs for incomes below 50Lacs and now 75Lacs per . File a simple 44ADA ITR where 50% is presumed to be expenses, no risk in case your actual spends are more than 50% of income. Your CA might be wrongly advising you.
My Tax Law professor hardly knew direct taxes. 😞
Income Upto 2.5 L are exempt. One pays zero tax for income upto 5L is due to rebate of 12,500. This rebate is available for income upto 5L.
Since you are an A0 I am not going to help you. Please read.
Yes, very smart question. The Income Tax Act recognises tier 1 lawyers as a distinct category of lawyers, levitating above the rest of the lawyers, who have to follow different rules.
Share his contact here? My CA also files returns, P&L, Balance Sheet - he charges me 12k. FYI - I am relatively senior and my salary has been 35 - 50 lpa for the last 3 years
totally agreed with you, all the information is out there in the public domain
bump bump karte rehte ho faltu main. puraane threads bhi check kar liya karo
You're an A0 in a T1 and you can't do the basic minimum of googling this or watching a video on this?

Read Section 44ADA of the Income Tax Act for a start.
I'm no expert either so I got a CA. I pay him 2.5k and he files my returns along with P&L, Balance Sheet and everything else that may be required. All I do is send his firm my account statements.
BUMP BUMP BUMP. Please someone do let us know what are the dos and donts here!