Section44ad
This query is : Resolved
01 March 2014
in this section; 8% profit means net profit or gross profit??
01 March 2014
it is not the net or gross profit, it is taxable profit.
It is a deeming fiction where 8% of the total turnover is assumed to be taxable income.
It is a deeming fiction where 8% of the total turnover is assumed to be taxable income.
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