watch_later 25/08/23

A Gst registered fruits business dealer NIL returns filed f.y. 22-23 but dealer cash deposit rs:1.25 crores in bank current account f.y.22-23. IT returns not filed till date.

Is it compulsory to file IT return for fruit trader?

1 Response | Latest response: 28/08/23 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 28/08/23

Yes, regardless of whether he is a fruit trader or vegetable trader, with this amount of transactions, he needs to file Income tax return. He can file under 44AD or get tax audit done.

GST and income tax are different. GST may not be applicable but Income tax is applicable on all earnings.


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