44af
This query is : Resolved
01 September 2018
HI EXPERTS
MY BUSINESS TURNOVER IS LESS THAN 75 LAKHS PER ANNUM . MY PROFIT MARGIN IN BUISNESS WILL BE AROUND 15 TO 20%
CAN I OPT FOR 44AF AND PAY TAXES AT 8% , EVEN THOUGH MY ACTUAL PROFITS ARE HIGHER.
PLEASE REPLY
MY BUSINESS TURNOVER IS LESS THAN 75 LAKHS PER ANNUM . MY PROFIT MARGIN IN BUISNESS WILL BE AROUND 15 TO 20%
CAN I OPT FOR 44AF AND PAY TAXES AT 8% , EVEN THOUGH MY ACTUAL PROFITS ARE HIGHER.
PLEASE REPLY
01 September 2018
If You are asking about sec 44AD...?
If Yes...
As per sec 44AD Who is eligible (Assessee and Business) In the section can opt upto Rs. 2cr Turn Over / Gross receipts...
Better to check Your business (Also Assessee) eligible for the said Section and go to opt.
Dhirajlal Rambhia
(Expert)
14 October 2021
Sec 44AF discontinued from AY 2011-12.
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