I am registered under GST, My turnover is 30.00 lakh excluding tax, means 35.40 lakh including tax as per GST.
M filing IT return under 44AD. So, for 44AD how to calculate profits
whether take 8% on 30lakh or 35.40 lakh?
Menu
IT return 44AD
Replies (7)
On 30 lakh
No such Definition of Turnover is given under Income Tax act ,1961 . Like under GST law.
File your returns...
If you are booking sales and purchase in your books excluding the GST, then show turnover as Rs 30 lakhs. Oherwise 35.4 Lakhs.
Also sales whose payment is received by banking mode and digital mode, only Profit of only 6% is to be declared instead of 8 % under section 44AD.
If person is providing AC repair and maintenance services, is it considered as technical services, can we file return u/s 44ADA for this ?
The term technical services is not directly defined under section 44AA. But you can take a view that AC repair & Maintenance services can be considered as technical service so you can file ITR-4 u/s section 44ADA.
TECHNICAL SERVICES CANNOT BE DEFINED BY INCOME TAX ACT.
ONLY THRESHOLD LIMITS ARE PUT IN PLACE.
Recent Threads
- Capital Gain and Basic Exemption Limit
- Loan to wife and interest income husband income or
- AOC-4 is not being filed
- Returning the shares gifted by daughter?
- Gst tax rate
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
Related Threads
CAclubindia
