Yasir (article assistant ) (466 Points)
16 July 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 16 July 2023
Just file how an itr is supposed be filed. Schools and hospital accounting different but taxation is the same.
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 16 July 2023
If total gross receipts were less than 50 lacs in the previous year then 50:% of gross receipt will be charged to tax as per section 44ADA of the income tax act , so he Can Opt for presumptive taxation per section 44 ADA of the income tax Act.if he fulfil all conditions , please refer 44ADA of the income tax Act. in detail . For maintenance of Books accounts please refer , section 44AA of the income tax act .
CAclubindia
