Anil Rego |340 Answers |Ask -Follow
Financial Planner - Answered on Feb 04, 2022
If I do so will I be in trouble in the future for underreporting my income & the IT department wants to know the source of remaining income?
And also should I be collecting GST? All my clients are from US & UK.
Further, one is eligible if your total gross receipts are less than Rs 50 lakh in a year.
Under the Presumptive scheme,
Higher of the following is offered as presumptive income:
By following Section 44ADA, an assessee would get the following benefits:
Considering the complexity, it is better you avail the services of a Chartered Accountant, so that he can look at all the finer details of your case.
You may like to see similar questions and answers below
Anil Rego |340 Answers |Ask -Follow
Financial Planner - Answered on Nov 27, 2020
Mihir Tanna |831 Answers |Ask -Follow
Tax Expert - Answered on Feb 05, 2023
Mahesh Padmanabhan |120 Answers |Ask -Follow
Tax Expert - Answered on Feb 17, 2023
Tejas Chokshi |126 Answers |Ask -Follow
Tax Expert - Answered on Apr 18, 2023
Vivek Lala |225 Answers |Ask -Follow
Tax, MF Expert - Answered on Mar 09, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Ramalingam Kalirajan |2434 Answers |Ask -Follow
Mutual Funds, Financial Planning Expert - Answered on May 17, 2024
Close