Profit u/s 44 ad
This query is : Resolved
22 September 2016
Dear All,
One of my friend received 21 lacs as a civil contractor Income and TDS is deducted 1% of Rs. 21 lacs :-
My Question is
Is it possible he is show 8% (i.e. 1.68 lacs) profit u/s 44AD is it possible.
Thanks & Regards
Rateesh
One of my friend received 21 lacs as a civil contractor Income and TDS is deducted 1% of Rs. 21 lacs :-
My Question is
Is it possible he is show 8% (i.e. 1.68 lacs) profit u/s 44AD is it possible.
Thanks & Regards
Rateesh
CA R SEETHARAMAN
(Expert)
22 September 2016
Yes it is possible................
Message likes :
1 times
Amol S Joglekar
(Expert)
22 September 2016
yes, why not? He can very well opt for 44AD
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