house wife work from home of stitching and small tailoring activity.
she received and paid in cash only whole year.
she can file returns showing only cash transactions only as a income and expense?
6 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 28 December 2020
Not required to file return as her income is not exceeding basic exemption limit
Fazil Ahmad
(75 Points)
Replied 28 December 2020
File nil return if you want to make financial track of the business
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 28 December 2020
Not required does not effect much
NITIN DALSANIA
(84 Points)
Replied 28 December 2020
With income from other source she may cross exemption limit in this year.
so what turnover she made in trailor work can show in cash only.
so what turnover she made in trailor work can show in cash only.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 28 December 2020
Actually such business activities didn't attract such income in a year further income is on cash basis but if she want to clear her financial track she can file nil return otherwise not required
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 28 December 2020
If u bring the amount to some deposits, more good , you file the return , so that a source for your deposit , if department ask!
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