MURALIDOSS (INCOME TAX PRACTITIONER) (1329 Points)
25 October 2022A person having gst registration in2020 august,(2020-21) but his accountant not filing any gst return after that,( no purchases and sales ) and also registration cancelled suomoto in feb 21 , Now he wants to filed incometax return for that year. his charges receipts 2019-20 is Rs.1200000/- if we file incometax for 2020-21 (A.year.2021-22) with receipts value Rs.1300000/- lakhs will become query?
Can I file incometax return gross receipts with 1300000/- u/s.44ad with 8% sir?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178215 Points)
Replied 26 October 2022
If it is trading business, you can file ITR u/s. 44AD with 6/8 % profit margin.
Being TO below exemption limit, no query would be raised from GST department.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178215 Points)
Replied 26 October 2022
If it is trading business, you can file ITR u/s. 44AD with 6/8 % profit margin.
Being TO below exemption limit, no query would be raised from GST department.
CAclubindia
