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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2012
MY TURNOVER IS 501730. IN F.Y. 2010-11 AND SHORT TERM CAPITAL GAIN IS 230000 . I AM WHOLSELLER AND ACTUAL PROFIT IS 21069.
WHETHER I HAVE TO SHOW 8% PROFIT COMPULSORYLY OR CAN CALCULATE TAX ON BUSINESS INCOME OF RS.21069
WHETHER I HAVE TO SHOW 8% PROFIT COMPULSORYLY OR CAN CALCULATE TAX ON BUSINESS INCOME OF RS.21069
CA. Nitin Agrawal
(Expert)
30 March 2012
Show 8% as income or get the books of accounts audited, the period of which was already over.
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