If one is to declare Income from sale of Vegetable & Fish, where would one show it ?
Both Purchase & Sale are in Cash Transactions.
Thanks in advance.
Tjr
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Income from sale of vegetable & fish
Replies (4)
FIle ITR-4 and show income from business/profession.
We can Classify such income under
1. Other Sources or
2. Business Income
Final Advise would depend on the quantum & Amount of Transaction
treated as income from retail business and you need to file itr-4s claiming profit under presumptive taxation.
Show it as as business income of receipts and payments are subtantial.Else it can be shown as income from other sources if the scale is very small.
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