GROSS RECEIPTS
AND PROFIT 8% OR MORE WHAT EVER U WANT TO SHOW
O YA 50% , 8% IN 44AD
| Originally posted by : manohar | ||
 |
my asseess have book profit of 320000 bt he declared profit under 44ADA rs 900000 than in filing itr any prblm is raise . n in form 4s gross receipt n net profit what profit shows means book profit or 44ADA profit |  |
Considering his "Profits / Gross receipts " ratio as 50% or higher he should not have any issues in ITR 4s. If he has shown lesser profits/gains than 50%; he probably has to get his books audited.
Naveen Fintech Pvt Ltd
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Gupta Sachdeva & Co. Chartered Accountants
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