A shopkeeper having a grocery shop.His annual turnover is 20 lacs.
He wants to file a income Tax return.
Which ITR to be file & which net profit ratio showed
File ITR 4 with minimum 8% profit margin for cash sales/turnover.
You are welcome ...
File ITR 4, no need of books of accounts. Maintain turnover records.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
