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Taxable amount for sec 44ada filer
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
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.
No link can be made for bank deposit with income.
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