A Doctor maintained a private hospital f.y 22-23 Gross receipts rs:3 crores.but f y 23-24 Gross receipts rs:1.50 crores estimated till date 15-2-24. doubt: income f.y 23-24 rs:3 crores above show in itr compulsory.
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Quick Summary
This discussion clarifies whether you must declare previous financial year's gross receipts in your Income Tax Return (ITR) for FY 23-24, even if your current year's income has decreased. The consensus is that you should declare the actual receipts for the current financial year. A decrease in turnover alone does not automatically trigger scrutiny.