section 44AF
This query is : Resolved
08 July 2010
if assessee files return showing 5% as income from business(as required) but in actual the profit margin is 26% can AO demand tax as per 26%??
08 July 2010
No, section 44AF is presumtive taxation basis for taxing the income.
You just need to show the minimum income to comply with the sections.
You just need to show the minimum income to comply with the sections.
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