He serve in Business and Management consultancy service
This year he received in cash and cheque.
Previously he has taken all amount in cheque.Till last year by ignorance he shown in Income from other sources ( around 3.5 laks each year).No inc shown in business head.
But this year he has taken in cash and cheque.
Please advise whether he can show receipts in No Accounts case in Income from Profession , exp @ 40 %
20 July 2023
How come there was no TDS deduction last year on his professional services? If deducted under which section? How much TDs has been deducted this year? Under which section?
20 July 2023
For the services provided by the assessee, minimum 50% profit margin must be declared otherwise he will be required to audit his books of account.
CAclubindia
