Profit u/s 44ada

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2017 Sir
I have prepared the P &L on the estimated basis and want to file return u/s 44ADA for this year. How to maintain cash in Hand for reporting in the return.
Pl advise.
Regards

13 June 2017 Cash in hand and at bank report at actual. Report actual turnover then you will not face any problem.

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2017 Is it compulsory to report 50% profit for professionals.
Or it can be more under this scheme 44ADA.
PL guide
Regards

13 June 2017 it can be 50% or more. no issues even if you report 100% as profit.


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