21 July 2022
My client has started Travel agency business in the name of his mother and did all his transactions through current account. Payments received from the customers directly through UPI in this account and bookings (airticket booking both domestic and international) are also done from this account. How do i compute the taxable income of such business since i have only the bank transactions details. I need to make a file under Income Tax. I cannot opt for section 44AD since its an agency business. Shall i take registration under GST or else i will make the file as an individual and compute the taxable income . Please guide.
CAclubindia
