A person retail rice store maintained.a person need business loan Rs:10 lacs from bank (cc).
Question:
A person how much sales turnover and net profit declare show in I t return filed in f y.19-20.(one year)
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 22 February 2021
It should be based on basis of turnover of past year and future maintainable profits but turnover should be based on fixed percentage of increase
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