Asset disclosion in return
Querist : Anonymous
I am filing ITR 4S for proprietary concern. Now i have purchased the gold Rs. 6 Lakh. Pls clarify where to show this gold in ITR 4S,
Regards
Shubham
Querist : Anonymous
Since you have opted for 44AD and paid tax on 8% of profit on turnover. The source can be profit earned more than 8% but AO can't question it.
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