One of I.t. Assess sales turnover f.y. 2017-2018 rs.25 lacs
sales turnover f.y.2018-2019 rs.32 lacs
two years I.t. returns filed sec 44ad(8%) as per provision.assess balance sheet not prepared two years.
doubt:
Assess f.y.2019-2020 I.t. return filed balance sheet prepared present year.how much amount capital and cash on hand introduced (opening balance) as on 01-04-2019 shown in I.t. returns under I.t. act.
1 Replies
Sid Haryani
(8 Points)
Replied 03 July 2020
Opening cash balance as per bank statement and i think opening capital will be capital introduced add profit declare in income tax act i.e 8% including all other capital adjustment like drawings, LIC etc
Recent Topics
- Excess itc claimed then intrest applicable even if
- Financing for Properties and Businesses
- TAX DEMAND STILL SHOWING ON INCOME TAX PORTAL, EVE
- FORM 10 IEA IN Revised return
- ITC Eligibility on GTA
- Top Highest Tax-Paying Celebrities: FY 2023-24
- Misplace society Bye law
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
Related Threads
CAclubindia
