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
- Proprietorship to Pvt Ltd - Is Slump Sale / BTA ma
- Pan and Aadhar Link Issue
- Fund Transfer to Foreign Country and TCS provision
- ITR updated return
- Company change Status from CIRP into Active
- Can a LLP Park money in MFs and do F&O
- ACCOUNTING TREATMENT FOR FIXED ASSETS STANDING AT
- GST Rule 14A and Form GST REG-32: Simplified Regis
- Filed Hotel commission from International Company
- Reinsurance brokerage section?
Related Threads
CAclubindia
