One builders construction 2 or 3 building in Non NA plot. Can he file his return ? If yes which itr should he file...?
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Builders and developers
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Yes ,
I need to file IT return if he get any type gain from this i.e sale of service .
it is irrelevent property is NA or Non NA
ITR FORM 3 FOR AY 18-19
he can file hi return in form ITR 3 as sale of structures and buildings are business for builders
in future maximum how much amount should he receive in cash or cheque from client... is there any limit ?
There is no such a limit, But he wants to file return under Presumptive bases i.e ITR 4 then cash received through chaque is deemed income 6% on sales other wise 8% of sale , if wants to file ITR 3 and wants to disclouse NP below 8% or 6% Accordingly then no such a for sales in cash. but is expenses should be not more than 20000 in cash . otherwise expenses os disalowed .
for any other or detail info just contact me 950303236
under sec 44ad can he show turnover 21 lacs and profit 15 % that is above 300000
yes profit above 8% can be shown as income if you adopt section 44AD
if the turnover is above 20 lacs than gst registration is applicable or not ?
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