U/s 44ad
This query is : Resolved
15 December 2011
sir i consider trading in stk mkt as ma business income from yrs.
in AY 11.12 my turnover is 55 Lac
is it compulsory for me to show 8% net profit or to do audit.
wat if actually i m earning 2% or 40%
in AY 11.12 my turnover is 55 Lac
is it compulsory for me to show 8% net profit or to do audit.
wat if actually i m earning 2% or 40%
Guest
Guest
(Expert)
15 December 2011
It is not necessary that you file your return under section 44AD.
In case you opt to file return under section 44AD and you want to show profit lower than 8% then you have to get your accounts audited.
Thanks.
In case you opt to file return under section 44AD and you want to show profit lower than 8% then you have to get your accounts audited.
Thanks.
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