44 ad
This query is : Resolved
20 July 2018
Dear Expert
we have running a retails business(Partnership Firm ) Turnover for the FY 2017-18 is Rs 1,30,00,000/- if my actual profit is 20% and i meet all criteria's of 44AD can i still show my " presumptive income " @ 8% ? if not than what's the point of making this scheme ? please note that 100% of income come to bank account
pl suggest me we can file ITR for 44AB OR 44AD
we have running a retails business(Partnership Firm ) Turnover for the FY 2017-18 is Rs 1,30,00,000/- if my actual profit is 20% and i meet all criteria's of 44AD can i still show my " presumptive income " @ 8% ? if not than what's the point of making this scheme ? please note that 100% of income come to bank account
pl suggest me we can file ITR for 44AB OR 44AD
20 July 2018
Yes you can opt for 44AD and declare 8% profit no problem. File ITR under 44AD.
20 July 2018
you can file under 44Ad @8% of turnover
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