Respected sir,
My client's Want to File his income tax return & his total Turnover is 1crore 25 Lakh And In this transaction 90 lakh received by the banking channel & 35 lacks received by the cash Can he show his income 6% of 90 lakh and & 8% of 35 lakh
After due date 31 july 2022 (us 139 (4)
plz Guide me.
If he is eligible assessee conducting eligible business as per sec. 44AD of the act, then yes, he can declare the income under presumptive assessment, and file ITR u/s. 139(4) of IT act, till Dec. 2022, with late fees.
CAclubindia
