Asseesee running mobile accessories shop. He is registered under gst. FY 2019-20 Turnover is ₹14,05,937. On that turnover presumptive basis 16% income offering.
Inaddition to that he earns repairs income from mobile phones repairs.
where i can show repair income in income tax return.
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 29 January 2021
It should be shown as indirect Income
subbu appala
(article trainee)
(152 Points)
Replied 29 January 2021
How to show mobile phones repairs income under income tax return. That means which head & where it is taxable.
Please guide me on tax treatment
Please guide me on tax treatment
Kapadia Pravin
(17259 Points)
Replied 29 January 2021
Both together will be in PnL account. Repairs Income will be income from Repairs in pnL. Accessories will be sale purchase.
subbu appala
(article trainee)
(152 Points)
Replied 29 January 2021
Books not prepared so i want to opt 44AD( i.e presumptive basis). In presumptive basis how repairs income shown.
Kapadia Pravin
(17259 Points)
Replied 29 January 2021
The whole list is there in ITR4 to select business and services codes
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