My question is
whether we have to show exactly 8% or we can show higher percentage also ??? I know the provision that AO can assess higher than 8% but my concern is "whether exact 8% at the time of filling return... "
Ashish its not necessary to show exact 8% of turnover assesssee can show higher than 8% of turnover.
We can show the NP more than 8% ..
:)
8% is the minimum taxable amount of turnover of your business but if you want to show higher than 8% then you can show it in your return and pay tax on that return Income.
CAclubindia
