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.
Menu
Difference profit un disclosed income treated
Replies (2)
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.
Recent Topic
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
Related Topics
CAclubindia
