Agency business and section 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2015
I am engaged in various items agency business, in which net profit is earned from 1% to 3% only and yearly turnover is around 80.00 lac. I can't declare 8% profit on the turnover. What is other alternative for me except getting accounts audited by a CA ?
CA R SEETHARAMAN
(Expert)
03 March 2015
Opt out of 44AD and maintain books of accounts. You will not be subject to audit as your turn over is less than 1 crore.
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