23 October 2017
FACTS OF CASE TURNOVER OF FNO TRADING=12.00 LACS ACTUAL PROFIT =00.20 LACS CAN WE DECLARE A PROFIT OF 8% UNDER 44AD TO AVOID AUDIT AS THE ASSESSEE HAS NO OTHER INCOME.
23 October 2017
@ Dear Mr Saurabh Jain.,
Please go to refer Sec 44ad...
Then you can choose which one is applicable for your above said query...
Don't be follow wrong advice. Then you can get intimation from ITD...
GOOD LUCK...
23 October 2017
I know very well that Commission or brokerage receiver's can't opt for 44ad.
But, In practice ITD never issue a show cause if a person offers more income and pay tax accordingly.
This thing is well known by every Certified Tax Practitioner.
24 October 2017
I / All know the "VERY WELL CERTIFIED TAX PRACTITIONER" can't follow wrong way... Bcoz, they all are work based ONLY assesee's comfortable. Can't work his OWN WAY.....
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