Tax liability of small order suppliers
This query is : Resolved
18 January 2016
In case of assessee is a small order supplier. He do not maintain any books of accounts. then which ITR he will file? Turnover more that 2,50,000 /-
18 January 2016
A person having turnover of less than Rs 1,00.00,000 can file ITR 4S. He has to show net profit U/s 44AD @ 8% or more of the turnover.
.
.
18 January 2016
After calculate 8% of turnover which come for say Rs. 5,00,000 turnover p.a then net profit will show Rs. 40,000, So, now how much will tax for him? Will it calculate as per individual tax slab?
18 January 2016
Tax will be NIL. Yes he has to calculate tax as per Tax Slabs applicable to Individuals.
18 January 2016
Thank you very much for your help
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST Regis.
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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 einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
