section 44AD
This query is : Resolved
08 April 2009
one of my client is in business of civil construction.During the year his receipt was 2500000/- less TDS.Howver the project got closed in between and expenses incurred were only 200000/-.In this should he declare higher income or 8% of 2500000/- is fine.Will there be any problem in assessment.
CA JAIMIN TRIVEDI
(Expert)
08 April 2009
You can show 8% of his gross receipts as income.
DEEPAK GOYAL
(Expert)
09 April 2009
you can show minimum 8% and maximum upto you
10 April 2009
to declare 8% income is a better option
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