Taxable income u/s 44 ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2014 I have a client who is dealer of Buildings construction material (like tiles, tiles chemical etc.) gross turnover around 50 lacks . in 44 AD he claimed around 22%, 20% margin of gross turnover in last two assessment years .now can i take around 10 % margin of gross turnover ...and if i take ..is it probable in scrutiny ..?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 June 2014 as long as profit is more than 8%, there is no issue.

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Rupesh Jain

Rupesh Jain (Expert)
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09 June 2014 if your net profit is more than 8% of gross turnover then you can file the return u/.s 44AD

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 June 2014 Rupesh Bhai he is already doing so. atleast read the query.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 June 2014 scruinty criteria is defined by dept and u cannot predict with certasinity whether scrtiny will come or not.

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