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Presumption income scheme u/s 44 ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 Sir,
we are a partnership firm engaged in labor contractor business.and our turnover is under limit prescribed limit
we want to file return of income under section 44AD and want to claim of salary paid to Partner.

for the purpose please tell me what is book profit where we did not maintain any books
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Guest

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Guest (Expert)
17 July 2012 yes, you can claim the salary as well as interest paid to partners
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 thank you sir but my question is what will be book profit where we have not maintained any books of account except receipts records
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 October 2021 As per section minimum 8% of the turnover.
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