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Calculation of Income Tax Liability
A trader with GST registration got ₹ 356800 /-Net Profit through trading.Also he got ₹ 1443200 /-as capital gain when he sold dryland..Can you tell me how much income tax he will have to pay if he files his income tax return in January 2023 for the financial year ended 21-03-2022?.
Replies (2)
First of all he cannot file ITR for AY 2022-23 now under normal circumstances..
Try in April 2023, u/s. 139(8a) of the act..
It is not termed as itr.
You are supposed to mention it as gstr and that too varies depending on the nature of registration.
You are supposed to mention it as gstr and that too varies depending on the nature of registration.
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