44ad regarding

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2013 Dear Sir,
Suppose total sale is Rs. 10 lacs and VAT charged is Rs. 50000/-, which is seperatly shown in bill book.

Here our net profit @8% would be calculate on Rs. 10 lacs
or
It would be calculate on Rs.10.50 lacs.

Please clarify.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 October 2013 the whole idea of 44AD is that books are not maintained.

8% shall be applied to sales + vat amount ie Rs 10.50 lakhs
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