Im a software consultant and filing ITR-4 under presumptive income from profession u/s 44ADA.
The company i consulted for, deposited the amount after TDS to my bank account.
Due to covid restrictions, I could not use the money in my bank account and had to rely on my family for the expenses (cash and purchases using their bank account).
For ITR, I have provided gross receipts as Rs.11L and presumptive income as Rs.5.5L.
1. Would I be questioned, as my bank account (linked to my PAN card) does not show any expenses and has the full Rs.11L in it.
2. How can I disclose the expenses that I have made by borrowing cash and purchases from my family members bank account.
CAclubindia
