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.
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.
CAclubindia
