44 ad applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2016
One of my friend is running Ice-Cream Shop along with fast food and milk-shakes. which is *self service* (no arrangement for sitting , the customer has to collect his order and eats it without any service given from the shop)
where milk & syrup is bought by him along with dry fruits and he mix them up to make different flavours of Ice-Cream and Milk-Shakes.
He also sells burger/sandwitch pizza etc. (TURNOVER LESS THAN 1 CRORE)
My que. is whether he can file ITR u/s 44-AD. aND IF 'YES'----THAN What shall be the category of Nature of Business ?? IS IT retail trade or service U/S 44 AD???
where milk & syrup is bought by him along with dry fruits and he mix them up to make different flavours of Ice-Cream and Milk-Shakes.
He also sells burger/sandwitch pizza etc. (TURNOVER LESS THAN 1 CRORE)
My que. is whether he can file ITR u/s 44-AD. aND IF 'YES'----THAN What shall be the category of Nature of Business ?? IS IT retail trade or service U/S 44 AD???
09 January 2016
44AD can be opted. Nature of business is 'retail trade'.
Message likes :
1 times
10 January 2016
You can declare minimum 8% on turnover u/s 44ad under trade
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Form 121 & TDS deduction
- Multiple trade mark
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
