30 January 2018
If total business receipts 6140300/- after excluding loans and deposits you can calculate deemed income @8%, also Cross check Billed amount and 26AS To declare Business income .
31 January 2018
If cash deposit is not pertaining to Revenue you can exclude all Declaration of Business income Rs.61,40,300/- but other loan and deposits to be Justified with respect to credit with proper records.
31 January 2018
Yes... I agreed to Mr KAVIRAJA ADDANGADI Sir.,
You ll consider Rs. 61lakhs is Total receipts of income for their Contractor. Also check the Contract bills and Consider the bill values as Receipts... Bcoz, the bank receipts can any PY balances will be received. So, Consider the details with contractor...
CAclubindia
