Filling of return 4s
This query is : Resolved
10 January 2015
I(Proprietor) maintain books of account.
Turnover: 10,00,000/-
Actual Profit: 4,00,000/-
I have filled ITR 4S u/s 44AD showing 8% profit on turnover i.e. Rs. 80,000/-
now, i want to bank borrowing which income is to be consider as net income of the year.
Turnover: 10,00,000/-
Actual Profit: 4,00,000/-
I have filled ITR 4S u/s 44AD showing 8% profit on turnover i.e. Rs. 80,000/-
now, i want to bank borrowing which income is to be consider as net income of the year.
11 January 2015
Virtually you can't go beyond Rs.80,000/- because bank officials may ask copy of IT return acknowledgement.
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