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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
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
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
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Nikhil Kaushik

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