it person estimated profit declared rs:7 lacs in f.y.22-23.but assessess cash gift to brother rs:12 lacs through on bank mode pay f.y.22-23.
question:
assessess difference amount rs:5 lacs( gift amount -estimated profit) tax applicable.
Menu
Difference amount tax applicable
Replies (1)
Whether the income from business was declared under presumptive assessment?
Recent Topics :
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
Related Topics :
CAclubindia
