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.
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