Income tax return
This query is : Resolved
14 December 2011
my client has a net profit rs.248630/- as per books of account on sale 3748560/- which is below 8% as prescribed under section 44AD. We have to file return u/s 44AD. my client is alos a partner in another firm, so that he has to file return in ITR4. if i filed u/s 44ad then no account case colm ask for gross reciept, gross proft, exp and net profit. the net profit as per books is 248630, but i want to file the return u/s 44ad, now what i do.
if anybody know the ans, pls reply
if anybody know the ans, pls reply
14 December 2011
In the PART A-BS and PART A- P&L show the real figures as it is but in point 3 of PART B-TI show income @8%.
Then in schedule BP, show the amount in point 1 and deduct it in point 4.
then show the presumptive amount in Point 33(i) and fill the form.
Regards
Then in schedule BP, show the amount in point 1 and deduct it in point 4.
then show the presumptive amount in Point 33(i) and fill the form.
Regards
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