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Income u/s 44AD
Can we show a income less than requisite 8% with turnover less than 1cr with Balance sheet & profit & loss without tax audit in income tax return.
Replies (6)
No... U/s 44ad no way for showing less than 8 percentage of profit...
If You will shown less than 8 percentage then Tax Audit is atract Your income...
If You will shown less than 8 percentage then Tax Audit is atract Your income...
any relevant material or section for reference
Also refer sec 44AD...
Yes agree with Raja sir.
Kindly follow this link
https://www.charteredclub.com/section-44ad/
Kindly follow this link
https://www.charteredclub.com/section-44ad/
If you want to show profit less than 8%, then tax audit is compulsory
good clarification and information
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