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audit under 44 AD
if my profit is >= 8% than i have to show 8% profit in next year ????
Replies (4)
Agree with Samit Ji.
As per 44AD profit is deemed to be 8%, it is the minimum profit you can show higher profit than 8%
As per 44AD profit is deemed to be 8%, it is the minimum profit you can show higher profit than 8%
thnx bt got the answer
main motive of sec 44ad is to give benefit to those small assesse who can not afford maintenance of book of accounts so govt say you can diclared 8% profit as deemed income if you show 8% profit does not any wrong in that
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