Income us 44ad
This query is : Open
08 September 2017
DEAR SIR ,
IF SOMEONE DEPOSITE D CASH IN BANK EARN FROM BUSINESS RS 80LAC DURING FINANCIAL YEAR , ACTUAL PROFIT IS 60-70 %, CAN HE DECLARE PROFIT 8% US 44AD, ALSO HAVING DEBTORS APPOX 20-25 LACS
KINDLY GIVE YOUR VALUABLE SUGGESTION
08 September 2017
Yes you can.........
08 September 2017
if income tax department asks for calculation of profit which is too high, then what I should I reply
Message likes :
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10 September 2017
Not asked by deptt if you opt under 44AD. He will considered it as sufficient profit.
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