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All QuestionsCategory: Income Tax ComplianceIncome tax query for sec 44ada return filer
Profile photo of Kollipara sundaraiahKollipara sundaraiah asked 9 months ago

Income tax query for sec 44ada return filer

Sir,
one of sec 44ada provision i.t.return filed source of income detailes mentioned below in f.y.19-20.
1.Gross receipts RS:10 lacs.
2. sft code:004 cash deposits in bank account,name of sft filer :bank of india, Amount deposit:14,00,500/-
3.assess cash gift to wife Rs 3 lacs through on bank mode paid in f.y.19-20.
Question:
Assess professional income RS:10 lacs declare 50% 5 lacs+ Sft code :004 cash deposit RS:14,00,500+ Cash gift to wife RS:3 lacs total taxable income RS:22,00,500/- is correct or wrong in f.y.19-20

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