Gst turnover in itr 4
This query is : Resolved
16 July 2018
One of my client is a Civil Contractor having gross receipts of almost 1 Crore. But till now he is not registered in GST.
So now I want to file his income tax return. I want to offer 6% of total turnover as profit as all receipts are through Cheque only
Ques 1 - Is he required to get registered in GST before filing his IT return for Financial year 2017-18
Ques 2 - Can I offer 6% of turnover as profits without doing audit.
Looking for positive reply
Thanks
So now I want to file his income tax return. I want to offer 6% of total turnover as profit as all receipts are through Cheque only
Ques 1 - Is he required to get registered in GST before filing his IT return for Financial year 2017-18
Ques 2 - Can I offer 6% of turnover as profits without doing audit.
Looking for positive reply
Thanks
16 July 2018
1. It is advisable to register under GST before filing income tax return
2. Audit is mandatory for him
2. Audit is mandatory for him
Message likes :
1 times
19 July 2018
Why audit is mandatory ?? audit limit is 2 Cr.
20 July 2018
if you opt for presumtive income scheme under section 44AD, you need to maintain books under section 44AA and get your accounts audited under section 44AB.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
