Income tax - itr -4 sugam

this means total receipts of sale in cheque or other banking channels. it does not include receipts of sales in cash. then tax rate is 6% instead of 8%

if  your business receipts are by chq / NEFT / RTGS / Other Electronice mode then your TAX laibility will be calulated @ 6% instead of 8%

if  your business receipts are by cash mode then your TAX laibility will be calulated @ 8% only

 

Dear Sir,

Thank you for information but sir Wt is meaning of 

Through a/c payee cheque or a/c payee bank draft or bank electronic clearing system received before specified date 

Chirag Mistry

 

please refer to proviso to section 44AD(1). you will get the answer.
it means the due date specified for filing of. return u/s 139(1).
the extract of the proviso is given under
....... during the previous year or before the due date specified in sub-section (1) of section 139 in respect of that previous year.

In order to promote digital transactions and to encourage small unorganized business to accept digital payments, it is proposed to amend section 44AD of the Act by reducing the existing rate of deemed total income of 8% to 6% in respect of the amount of such total turnover or gross receipts received by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account during the previous year or before the due date specified in sub-section (1) of section 139 in respect of that previous year.