Welcome to Monday Corner, an initiative from Tax Publishers…

Quiz for the week (28 Oct 2024) :

Ramesh Lal engaged in trade of Garments has turnover of Rs. 2.85 crores for the FY 2024-25. He did 100% of sale through online only. His purchases however, were in local market (shandy) which consisted of Rs.30 lakhs. Out of the said purchases, payment through online banking was Rs.22 lakhs. He has incurred other cash expenses during the year aggregating to Rs. 28 lakhs. His income as per books of account was Rs.18 lakhs. Suggest whether he can file his ITR through Tax Return Preparer (TRP).

Kindly mail your answers on or before 4th November, 2024.

Email your reply at quiz.taxpub@gmail.com

Answers :