Presumtive tax u/s.44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
My client conducting a Laundry & dry cleaning shop.Does the above receipts come under presumtive tax i.e.can he declare 8% profit on total turnover & file returns in form no-4S
01 September 2011
laundry and dry clearing CHARGES, are expenses of personal nature,
your query is not representing any business or profession,
your query is not representing any business or profession,
01 September 2011
Dear Anonymous,
Drycleaning and Laundary business is a business u/s 44AD if carried on by individual, HUF or partnership Firm. Hence, you can profit @ 8% directly of turnover without having the burden to maintain books of accounts.
Drycleaning and Laundary business is a business u/s 44AD if carried on by individual, HUF or partnership Firm. Hence, you can profit @ 8% directly of turnover without having the burden to maintain books of accounts.
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