30 December 2020
A composition dealer sales turnover rs:15 lacs in f.y 19-20. assess sales turnover rs:15lacs profit@8% rs:1,20,000/-.as per sec 44ad
But assess profit decalre @32% rs:4,80,000/- show income tax return in f.y 19-20. Question: Assess high value profit decalre future any problem and same profit ratio decalre compulsory next year under i.t.act
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