A person having gst registration in2020 august,(2020-21) but his accountant not filing any gst return after that,( no purchases and sales ) and also registration cancelled suomoto in feb 21 , Now he wants to filed incometax return for that year. his charges receipts 2019-20 is Rs.1200000/- if we file incometax for 2020-21 (A.year.2021-22) with receipts value Rs.1300000/- lakhs will become query?
Can I file incometax return gross receipts with 1300000/- u/s.44ad with 8% sir?
If it is trading business, you can file ITR u/s. 44AD with 6/8 % profit margin.
Being TO below exemption limit, no query would be raised from GST department.
If it is trading business, you can file ITR u/s. 44AD with 6/8 % profit margin.
Being TO below exemption limit, no query would be raised from GST department.
Thanks verymuch sir.
Most Welcome...
Thank you for the useful information!
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