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Higher profit d allowed in it act

kollipara sundaraiah (B.com) (1600 Points)

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.

 2 Replies

Sivaramaraju G (Learner) (2350 Points)
Replied 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.

Sourav (Student) (23912 Points)
Replied 21 October 2021

No problem

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