44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2011
We are having jewellery business , maintaining BOA , This year due to rates of gold & silver on higher side our Profits are 15% of T/O.
If we can opt 44AD and declare income as 8% of T/O . Our T/O is less than 60lacs.
If we can opt 44AD and declare income as 8% of T/O . Our T/O is less than 60lacs.
09 December 2011
Dear friend under section 44AD assessee has to declare minimum profit @ 8% or more if it is more than 8%. Therefore you have to declare 15% net profit u/s. 44AD .
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Not able to file ITR
- New Garden in Place of Old Garden
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
