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Section 44ad

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(Querist)
24 July 2012 My business profit is Rs. 3,75,000.
And Rs. 400,000 (50,00,000 * 8%).
Then, which profit should be considered??
3,75,000 or 4,00,000???
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CA Sahil Singla..

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CA Sahil Singla.. (Expert)
24 July 2012 If you can manage Tax Audit of your accounts u/s 44AB, then go for Rs. 75000.
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
25 July 2012 Profit Rs.80000/-
will be considered
but since your income chargeable to tax doesnot exceeds the amount chargeable to tax

you can show Rs.75000/- and you will not be required to maintain books and get your accounts audited




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