Income tax form 4 & 44AD
This query is : Resolved
27 December 2020
Sir I have start small business during 2019-20 and its turn over is Just below Rs 2000. I try to submit return through ITR 4 Under 44 AD. But is shows 30 % tax instead of 8 % presumptive while entering gross turn over . my business is a partnership firm . I use "Firm" in status bar. Please advise the same with
regards Binu
regards Binu
27 December 2020
Under 44Ad you can claim profit 8 or 6 % on turnover as profit and tax will be calculated 30% on profit since your organisation is firm
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