Estimated Income Scheme

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Dushmanta Rana (Querist)
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29 September 2020 If a assessee is registered with GST having transport business then can that assessee submit the return of income through Estimated Income Scheme ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 September 2020 Yes, under section 44AE if he owns and operates not more than 10 trucks.

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Dushmanta Rana

Dushmanta Rana (Querist)
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29 September 2020 Sir in the compliance portal of Income tax the GSTR 1 sale figure is difference from the Portal Figure under this circumstance what to do ? what reply we will give in compliance ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 September 2020 What is the reason for the difference. Is it due to opting 44AE.

Dushmanta Rana

Dushmanta Rana (Querist)
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29 September 2020 Sir, we have filed the Return of Income for the Assessment Year 2019-2020 just two days before but the difference in the compliance portal is showing before our return filing.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 September 2020 Respond to compliance as return filed as per presumptive scheme if so filed.

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