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??
3 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 28 December 2021
I can help you with this. Check your inbox
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 28 December 2021
It largely depends on the terms of contract as to how it is framed
N.V. Siva Ram Prasad
(Accounts & Audit Assistant)
(261 Points)
Replied 29 December 2021
SIR GO FOR 45AB FOR THE CLIENT SIR AND DECLARE 5% ON RECEIPTS SIR
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