watch_later 3 weeks, 5 days ago
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.
Join the largest Taxation Q&A platform on internet and ASK YOUR OWN question.Ask your Question
You need to be logged in to answer.
Check your GST numbers in bulk. Check unlimited GST numbers with very cheap packages.