India

7024984925

Whatsapp No.

Forum

Taxable amount for ...
 
Notifications
Clear all

≡ ⇑ Register / Login 

Let us know your doubts and queries in section down below.
Also, if you can solve the other person’s doubt and queries, then it will be a great help to all the people troubling out.

Taxable amount for sec 44ada filer


Sundaraiah
(@sundaraiah)
Trusted Member
Joined: 2 years ago
Posts: 66
Topic starter  

Assess sec 44ada filed I.t return every year.

Source of professional income gross receipts Rs:10 lacs

2.sft code:004 cash deposit in bank account

Name of the SFT filer :sbi

Amount deposit 12 lacs.

Assess gross receipts Rs:10 lacs declare 50% Rs:5 lacs net profit sec 44ada

Question:

Assess taxable income applicable on declare net professional income Rs:5 lacs or cash deposit in bank  rs:12 lacs net income declare Rs:6 lacs in f.y.19-20 is correct procedure.


Quote
Riya
 Riya
(@riya)
Member Moderator
Joined: 2 years ago
Posts: 45
 

Yes correct.

No link can be made for bank deposit with income.


ReplyQuote
Share:

DisclaimerDon’t Forget to subscribe your query. If you donot find Mail from BabaTax, Kindly Check your promotion or spam mail inbox. Thank you for being a part of this GST forum. Your support and time is precious for us. Stay connected with us.

For any kind of support kindly write us at [email protected]

Any mistake, error or discrepancy in this site or design or comments to be brought in our notice which shall be taken care of accordingly and every efforts shall be made to rectify without loss of time.

The views expressed in the answers of GST forum queries are strictly personal. Contents of GST forum are solely for informational purpose, not for any professional advice or suggestion. Author does not accept any liabilities for any loss or damage of any kind arising out of information and for any actions taken in reliance thereon.

You agree that www.babatax.com has no liability, obligation or responsibility for any such correspondence, purchase or promotion between you and any such third party.