for example:
a professional income it person gross receipts rs:12 lacs net profit rs:6 lacs 50 percent declared as per sec 44ada provision.but a person rs:7 lacs amount profit credited by capital account.
question:
difference amount rs:1 lacs (rs:7 lacs --rs:6 lacs ) undisclosed income treatment in it act.
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Difference profit undisclosed income treatment
Replies (1)
No. Its not treated as undisclosed income...
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