Audit u/s 44ab or not
This query is : Resolved
01 May 2017
I am Manpower Service provider. In F.Y. 2016-17 provide service of Rs 49 Lacs.
My question is that according to new sec 44 ADA if i do not want to get my books audited i have to declare profit of 50% of service provided?
Or can i file ITR 3 with declare less than 50% profit?
My question is that according to new sec 44 ADA if i do not want to get my books audited i have to declare profit of 50% of service provided?
Or can i file ITR 3 with declare less than 50% profit?
01 May 2017
44ADA applicable only for specified professional. File ITR 3 and declare less than 50% profit.
26 May 2017
If it is a gross receipt which includes the salary of man power service provided declare not less than 8% profit. If it is a commission income declare the profit as per books of accounts maintained.
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