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Higher profit d allowed in it act

Others 344 views 2 replies

Kollipara Sundaraiah

B.com

3024 Points Posted on 20 October 2021

it assess sec 44ad sales turnover profit declared 9 percent in f.y.19-20
but assess sec 44ad sales turnover profit declared 31 percent in f.y.20-21.
question:
assess f.y.20-21 higher profit declared any problems future in it act.

Replies (2)

Sivaramaraju G

Learner

2398 Points Posted on 21 October 2021

I think he must be wanted to utilise basic exemption by increasing profit right.
better don't show a profit percentage which is having big difference with earlier year.

normally if you go with 44AD there will be very less risk of selecting for scrutiny so you no need to worry.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 21 October 2021

No problem

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