Sec 44ad
This query is : Resolved
24 August 2014
Sale is 25 lac
Actual profit is rs 130411
exempt income are Rs 91845
whether i can declare profit Rs 201000 (i.e.>8% of net turnover) in return only, and use the benefit of sec 44 ad.
ITR 4 SHOULD BE Submitted since exepmt income more thn 5000.
Actual profit is rs 130411
exempt income are Rs 91845
whether i can declare profit Rs 201000 (i.e.>8% of net turnover) in return only, and use the benefit of sec 44 ad.
ITR 4 SHOULD BE Submitted since exepmt income more thn 5000.
Nikhil Kaushik
(Expert)
24 August 2014
yes you can. and yes, you have to use ITR4
24 August 2014
dear sir
which profit should be used to in forming balance sheet.
130411
or deemed profit
which profit should be used to in forming balance sheet.
130411
or deemed profit
Nikhil Kaushik
(Expert)
24 August 2014
there wont be any balance-sheet once you use 44AD
24 August 2014
balance sheet made for future year nd own purpose only.
not talking to fill it in return.
not talking to fill it in return.
Nikhil Kaushik
(Expert)
24 August 2014
in that case always use the actual profit. because otherwise, the balancesheet wont tally
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