Appli. of 44AD for Restaurant Business-Restaurant Business
This query is : Resolved
09 October 2020
Dear all..
I want to know one of my clients who run a restaurant business and his annual gross receipt is around 25lacs.
Can he file his income tax return under 44AD on a lumpsum basis and show profit of more than 8%??
Give me your view at earliest.
Thanks in advance.
I want to know one of my clients who run a restaurant business and his annual gross receipt is around 25lacs.
Can he file his income tax return under 44AD on a lumpsum basis and show profit of more than 8%??
Give me your view at earliest.
Thanks in advance.
Shrikant Toshniwal
(Expert)
10 October 2020
YES HE CAN FILE U/S 44AD OF IT ACT
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