13 December 2017
DEAR SIR / MADAM, A BUILDING CONTRACTOR'S INCOME RS. 48 LAKHS IN HIS BUSINESS INCOME AND HE HAVE AGRICULTURE INCOME RS. 3. LAKHS. I WILL SHOW THE PROFIT RS. 3.90 LAKSH (ABOVE 8%)... THE QUERIES ARE NOW.,
1. IS IT CORRECT METHOD OF CALCULATION R NOT...? 2. WHAT IS THE ACRI INCOME RS. 3 LAKHS? IT'S FULLY EXEMPTED OR NOT...? 3. HOW TO CALCULATE THE INCOME (8%0). ITS RS. 48 LAKHS * 8% = 384000 OR RS. 51 LAKHS * 8% = 408,000
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