6% net profit u/s.44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2018
For Assessment Year 2018-19, may I show net profit @6% u/s.44AD in case of banking turnover.
30 April 2018
Yes, provided the following conditions are satisfied.
* banking turnover should be by way of a/c payee cheque/DD or elotronic clearing
system and
* the person is doing an 'eligible business' and an 'eligible assessee' as per
explantion (a) and (b) of 44AD.
* banking turnover should be by way of a/c payee cheque/DD or elotronic clearing
system and
* the person is doing an 'eligible business' and an 'eligible assessee' as per
explantion (a) and (b) of 44AD.
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