44ad and books maintenance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 September 2018
I have a turnover of around 1.5 cr. But my profit is less than 8% (around 5%). I am opting to file my ITR as per sec 44AD.
I have a doubt whether I need to increase the profit in my books also to 8% or keep it as it is coming around 5%.
I have a doubt whether I need to increase the profit in my books also to 8% or keep it as it is coming around 5%.
03 September 2018
Keep it as it is no problem.
04 September 2018
pay tax calculating 8 %of turnover but book profit in books 5 % ....no problem
if you pay tax 5% of turnover then audit is mandatory.
if you pay tax 5% of turnover then audit is mandatory.
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
- Sales of goods of amount Rs97 lakhs to a party
- GST rate and HSN code for sale of racing horses
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
