Sec 44ad is repairs & or stitching chgs received -receipts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 November 2011
my client, a dealer in empty gunnies and made turnover of Rs.22lakhs and he also receives Rs.3.75 lakhs towards stitching and repairs to gunny bags.
can he declare greater than equal 8% on Rs.25.75 lakhs(ie 22lakhs + 3.75 lakhs)u/s 44AD.?
pl.clarify.
can he declare greater than equal 8% on Rs.25.75 lakhs(ie 22lakhs + 3.75 lakhs)u/s 44AD.?
pl.clarify.
Dintakurthi Tirumala
(Expert)
28 November 2011
Yes, He has to offer minimum 8% of income on Rs.25.75 lacks because stitching and repairs also treated turnover.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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28 November 2011
Agree with expert
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