my client is in the business of selling building materials. last year he filed return under 44ADA as he giving professional service as architect.
this year I filed his return under 44AD showing his sale of goods and service receipts together.
his np ratio previously was above 50% obviously bt this year i showed np ratio of 28%. will this huge decrease attract notice ?
Menu
Gross profit ratio for building materials
Replies (1)
Naturally a query may be raised, as his professional services cannot be considered under Sec. 44AD!!!
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
