Respected sir,
My client's Want to File his income tax return & his total Turnover is 1crore 25 Lakh And In this transaction 90 lakh received by the banking channel & 35 lacks received by the cash Can he show his income 6% of 90 lakh and & 8% of 35 lakh
After due date 31 july 2022 (us 139 (4)
plz Guide me.
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Profit 6 & 8
Replies (2)
If he is eligible assessee conducting eligible business as per sec. 44AD of the act, then yes, he can declare the income under presumptive assessment, and file ITR u/s. 139(4) of IT act, till Dec. 2022, with late fees.
Yes he can opt for presumptive income
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