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
Recent Topics
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
Related Threads
CAclubindia
