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Cash payment
if l am not maintaining accounts and not liable to audit then how deparment know about cash payment exceeding 10000?
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Quick Summary
If you are not maintaining accounts and not liable for audit, than you are suppose to file your return under presumptive Taxation i.e 44AD ect...
in that case Sec. 40A(3) disallowance of cash payment exceeding 10,000 not applicable.
in that case Sec. 40A(3) disallowance of cash payment exceeding 10,000 not applicable.
Also in ITR 4 (44AD) , Trade creditors , Trade receivable , Cash , Bank , stock info is mandatory .
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