it assessess Gross receipts rs:12 lacs profit declared rs:6 lacs show in it returns as per sec 44ada provision.but profit rs:9 lacs credited by capital account in books.
question:
assessess difference profit 3 lacs undisclosed income treated in it act.
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Difference profit un disclosed income treated
Replies (2)
Quick Summary
No. It's not undisclosed income, if you have declared totally 12 lakhs under sec. 44ADA of IT act.
Yes undisclosed as in it returns you have declared only 6 lacks, file updated return to declare undisclosed income.
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