Turnover u/s.44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 May 2017
My total Turnover is Rs.27.00 lac during the financial Year 2016-17. Out of which, I have received Rs.25.50 lac vide cheques and 1.50 lac remaining receivable..May I declare income @ 6% on Rs.25.50 lac and 8% on Rs.1.50 lac u/s.44AD ? The outstanding amount of Rs.1.50 lac has been received by me in April,2017 vide cheque.
03 May 2017
The amount received before the date of filing return will also be considered for 6% profit for FY 16-17, so 1.50 lakh is also taxable at 6% for FY 16-17.
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
- House Property Reporting in ITR
- TDS Claim year
- TDS Challan Code
- Rent lease agreement
- Relief u/s Section 89
- REGARDING SECTION 44AE
- Merchant Export Accounting
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Agriculture income or business income
- Entries in AIS regarding sale of units and shares
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
