What should perfect percentage for p&l a/c of a mobile shop
This query is : Resolved
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
(Expert)
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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19 September 2015
sir,
one thing what should be the all expenses in P&L A/C ratio on sale.?
one thing what should be the all expenses in P&L A/C ratio on sale.?
Amol S Joglekar
(Expert)
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%
If you are opting for section 44AD along with 8%, the expenses would be 100-8 = 92%
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