Section 44ad applicable
This query is : Resolved
21 August 2013
Plz help me in case of Amount received from company for rent on plant and machinery Rs.55 lakh on which 2 % TDS is deducted by company and contract payment of labour supply to company Rs.40 lakh on which also 1% TDS is deducted.So my total receipts is Rs.95 Lakh and TDS is 1.5 lakh.
Can i use 44 AD section and show net profit above 8%.Book are not required
Can i use 44 AD section and show net profit above 8%.Book are not required
21 August 2013
mention about the business of your company for proper advising.
21 August 2013
Since you are the contractor and your profit is above 8% of the total turnover than you can file your return in form No. 4S and take the shelter of Section 44AD
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