44AD PRESUMPTIVE RATE ON CREDIT SALES
This query is : Resolved
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Chartered Accountant
(Querist)
14 April 2025
One of my client started his business in march 2025 & have turnover of 99.24 Lakhs in FY 2024-25, all the sales are credit sales and the Payment will be received in parts in FY 2025-26 all through banking channels only actual profit is around 3-4% only but still we are opting 44AD for FY 2024-25 what will be the presumptive rate applicable 8% or 6%? As the sale is classified as credit sale. (Payment will be received in parts in FY 2025-26 all through BANKING channels)
14 April 2025
For all the receipts (through banking mode) till the date of filing relevant ITR, you can consider 6% rate. Rest all 8%.
Chartered Accountant
(Querist)
14 April 2025
THANK YOU SIR FOR YOUR ADVICE
14 April 2025
You are welcome.
29 September 2025
Good luck.....
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