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
- House Property Reporting in ITR
- TDS Claim year
- Supply through E-commerce Operators
- Rent lease agreement
- TDS Challan Code
- Relief u/s Section 89
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- REGARDING SECTION 44AE
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
