my clint Recd payment for transportation Rs 1 cr and paid Rs 95 lakh to truck owners and earn only 5 lakh Rs only.
Bank acc show receipt Rs 1cr but my earnings is only 5 lakh Rs.
for income tax return how to file return ITR ?
GST is applicable or not in this case??
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It largely depends on the terms of contract as to how it is framed
SIR GO FOR 45AB FOR THE CLIENT SIR AND DECLARE 5% ON RECEIPTS SIR
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