15 May 2012
Dear expert, In FY 2010-11, I had opted ITR 4S and net profit was @8.97%. Now for FY 2011-12, again I am opting ITR 4S and net profit would be @ 8.57%. Is there any risk, if net profit is reduced upto .40%, however still it is above 8%. Please advise me.
15 May 2012
There is no such issue if net profit is reduced upto .40% if there is proper reason for that. Moreover with increase in sales there is decrease in G/P ratio and simultaneously in N/P ratio.
15 May 2012
Absolutely not. There is no problem in showing the actual profits and it a general economic scenario in which if profits increase then profits decrease as well.
CAclubindia
