Dear all,
Please help on below.
One of my frnd has a agency of biscuits mnf company.
He buys and sell it on the basis of commission income. Total turnover around 65lakh.No book maintained.
All are in cash transactions. Some expenses are gowdown rent, delivery boys salary.
Pls suggest income if I consider ITR4, then 8% of 65lakh or 8% of 65 less above expenses.?
CAclubindia
