Raja Sir, I have doubt regarding IT returns. My client is engaging with online Money transfer and cash deposit and withdrawals. His cross Receipts also crossed 2 crores in last fy 2022 23. His income is blow 4 lakhs but transaction is high so how ca we file His IT returns and is it possible to file 44 AD or 44AB without books maintains. kindly advice pls
Online money transfer then Take the Service amount as his income. Then it will be through 44ad. In case he charged as it's commission then its not possible under 44ad...
(please raise query with new forum. don't cross into others questions please 🙏)
@ Yasir,
Yes, You can calculate and pay the as per Your Computation.....
Sorry i understand this query will divert but I tried Several time however couldn't posted due to error reply received. Hence Posted again here.
He disburse cash payment to Customer on recepit of his equalant amount by swiping Thier debit card in card machine for which he earns minimun commission into his bank A/c.
At the same he receives service chareges in cash 1 % on total disbursement. Due to that so many online transactions recorded for above 2c in all his bank accounts. so kindly advice me as how to take it forward to file ITR either 4AD or ITR3 🙏