What should perfect percentage for p&l a/c of a mobile shop

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Sachin (Querist)
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19 September 2015 I want to know that what should be a percentage for mobile shop if it is having small business, should there need to maintain NP or GP, please tell the necessary expenses ratio................ please answer soon

Amol S Joglekar

Amol S Joglekar (Expert)
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19 September 2015 section 44AD of Income Tax Act has really come very handy for all such eligible business. It says 8% or more profit. That can be regarded as YARDSTICK.

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Sachin

Sachin (Querist)
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19 September 2015 sir,

one thing what should be the all expenses in P&L A/C ratio on sale.?

Amol S Joglekar

Amol S Joglekar (Expert)
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19 September 2015 at ACTUALS is the best way to find out the profit.
If you are opting for section 44AD along with 8%, the expenses would be 100-8 = 92%

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