Profit as per normal books of account 450000, and 8% of turnover is 260000. in the above case can we declare 8% u/s 44AD.
Menu
44 ad
Replies (3)
Yes... You can if your business is eligible and Follow as per sec 44AD...
in above case whether i have to file p&l and balance sheet?? if itr shows profit higher than 8%?
if opt to Presumptive Taxation scheme then no need to File PandL and BS except Debtors & Creditors Balance, Stock and Cash. Also these are not mandatory...
Recent Threads
- Royalty on Intellectual property Rights
- Form 121 submission
- Wines shop
- GST ALL SEC AND RULES
- CA Final 2 Attempts a Year – Relief or Press
- ITR-3 Presumptive 44AD + Business income - Require
- Block income tax return ITRB
- ITR-1 FORM FOR AY 2026-27
- Service Tax Apple and Pre Deposit
- Sale of redeveloped property Tax
Related Threads
CAclubindia
