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(Querist)
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.
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CA JAIMIN TRIVEDI

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CA JAIMIN TRIVEDI (Expert)
08 April 2009 You can show 8% of his gross receipts as income.
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DEEPAK GOYAL

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DEEPAK GOYAL (Expert)
09 April 2009 you can show minimum 8% and maximum upto you
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
10 April 2009 to declare 8% income is a better option
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