banner_ad

Queries regarding 44ad.

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 July 2011 Dear sirs,

my father is a retail trader. actual net profit = 15% but can we just show 8% alone using 44 AD?
2) If we adopt 8%, then shall we continue to maintain the cash book / day book on actual basis as usual?
in that case, cash bal. as per balance sheet will be LESS & cash bal. as per cash book will be MORE..
pls guide.
Profile Image

hitesh

Profile Image

hitesh (Expert)
26 July 2011 if u adopt the filing of ITR under the section 44AD, there is no requirement to put Balance Sheet Figures (and cash) in ITR.. Just compute Tax @ 8% and compute tax accordingly..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

M/s G.K. Choksi & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

J SINGH & ASSOCIATES

Ahmedabad

CA Inter

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details