Tax liability of small order suppliers
This query is : Resolved
18 January 2016
In case of assessee is a small order supplier. He do not maintain any books of accounts. then which ITR he will file? Turnover more that 2,50,000 /-
18 January 2016
A person having turnover of less than Rs 1,00.00,000 can file ITR 4S. He has to show net profit U/s 44AD @ 8% or more of the turnover.
.
.
18 January 2016
After calculate 8% of turnover which come for say Rs. 5,00,000 turnover p.a then net profit will show Rs. 40,000, So, now how much will tax for him? Will it calculate as per individual tax slab?
18 January 2016
Tax will be NIL. Yes he has to calculate tax as per Tax Slabs applicable to Individuals.
18 January 2016
Thank you very much for your help
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Management System (IMS)
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Gift Received from nonblood relative
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
