Profit precentages over Sales
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2010
can anyone help with the pecentages of profit over sales/turnover for different busienss, allowed by income tax board
22 February 2010
This is as below:
u/s 44AD -> Civil construction business -> % of profit 8% of total turnover, if total turnover does not exceed Rs. 40,00,000 from the same business.
u/s 44AE -> Transport Business -> Profit is Rs. 3500 PM for heavy vehicles and Rs. 3150 PM for Light Vehicles, provided if total no. of vehicles are not exceeding 10 during the previous year.
u/s 44AF -> Retail Business -> % of profit 5% of total turnover, provided total turnover is not exceeding Rs. 40,00,000 per annum during the previous year.
Other are applicable for Non-resident like 44ABB etc.
Regards!!!
Dinesh S. Adhikari
u/s 44AD -> Civil construction business -> % of profit 8% of total turnover, if total turnover does not exceed Rs. 40,00,000 from the same business.
u/s 44AE -> Transport Business -> Profit is Rs. 3500 PM for heavy vehicles and Rs. 3150 PM for Light Vehicles, provided if total no. of vehicles are not exceeding 10 during the previous year.
u/s 44AF -> Retail Business -> % of profit 5% of total turnover, provided total turnover is not exceeding Rs. 40,00,000 per annum during the previous year.
Other are applicable for Non-resident like 44ABB etc.
Regards!!!
Dinesh S. Adhikari
25 February 2010
agree
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