One of a sec 44ada provision I.t. Assess 1.Gross receipts Rs:12 lacs in f.y 19-20
2.assess cash gift to wife Rs:3 lacs through on bank mode in f.y 19-20.
Assess sec 44ada provision net profit declare @50% Rs: 6 lacs.
Cash gift to wife sec 64 applicable in I.t. act.
Assess net taxable total income Rs:6 lacs (professional income only )or 9 lacs (professional income+cash gift to wife) show in I.t returns in f.y.19-20.
| Latest response: 06/01/21 | Sort by