Im borrowing money at 11 percent and lending it to other person at 12% with motive of profit, can i show this as a bisness under 44AD and take benefit of 6% profit declaration of total interest earned though bank only
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Can Money Borrowing and Lending business under 44AD?
Replies (3)
Is it certified by reserve bank of india.
@ Mr Sagar,
You are confused over turnover of the business, it is not just interest earned!!!
Yes, you can show 8% or 6% of the interest income under 44AD
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