Income Tax Return file
This query is : Resolved
Dhaval Patel
(Querist)
05 May 2017
i want to return file u/s 44 AD
my one client total turnover Rs.10,00,000/-
how to calculate tax
CA Idris M K
(Expert)
05 May 2017
Under Section 44AD Profits are assumed at 8% of Sales, for Businesses having Turnover less than 2 crores.
in your case taxable profits is 8% on 1000000/- i.e. 80000/-
Assuming your client to be an individual having no other source of income, tax payable would be Nil
in your case taxable profits is 8% on 1000000/- i.e. 80000/-
Assuming your client to be an individual having no other source of income, tax payable would be Nil
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