13 September 2014 Dear Dev,

Ask the party (he can give you estimated figure of yearly turnover)

Minimum 8% of the turnover is taken as net profit, assessee can claim more profit if he thinks his net profit would be more than this.

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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13 September 2014 Dear Dev,

Hope it is clear to you now.

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