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44 ae in itr 4 plz help
A Transporter have one light weight vehicle but he want to show a profit Rs 392,000
Can He Show this figure & how?
plz help
Replies (6)
U/s. 44AE......... there is no upper limit for profit margin.......
But is it ok to show profit from 1 vehicle , Can IT Dept raise notice for it?
TODAY is last date plz help me
Only gross receipts can be verified, no books of accounts required to be maintained.
So, even if any query raised (no chance when profit margin more than minimum requirement) you are to provide gross receipt details from bank statements or cash book........
As per return it show periods & income monthly How is it show in ITR ,Where to show turn over and gross receipts?
OK !!!
Schedule 44AE..... ITR4 ......
Sr. 1....... Column 'A'........ 12 ........... Column 'B' ...... Rs. 32667.
Sir Thanks a lot................ for help.....
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