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44ad and books maintenance

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Querist : Anonymous

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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%.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 September 2018 Keep it as it is no problem.
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Gokul Sharma

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Gokul Sharma (Expert)
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.
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