Urgent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2012
Dear Expert,
One of my client is a telecom dealer, his total sale of recharge coupen is 58 lacs and as their trade practice his net profit is Rs.174000/- @3%. Whether he can opt sec. 44AD voluntarily by declaring net profit of Rs.464000/-.
Please advise me.
One of my client is a telecom dealer, his total sale of recharge coupen is 58 lacs and as their trade practice his net profit is Rs.174000/- @3%. Whether he can opt sec. 44AD voluntarily by declaring net profit of Rs.464000/-.
Please advise me.
CA Sumat Singhal
(Expert)
01 September 2012
Sure he can go by declaring income @ 8 %. thats what sec 44 ad requires.
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