I have some of little bit confusion,
Can a jewellery business declare profit under section 44AD as presumtive for the FY 2016-17?
Because his actual net profit is 16%.
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Jewllery business 44ad
Replies (4)
Yeah you can, but make sure that the assessee doesn't exceed total tornover or gross receipts of Rs. 2Cr in the PY .
I think If Jewellery work is Considered as Job work then It Can't come under 44AD
I think you can as per brilliant post done by imazzea on there website.
Kindly refer below mentioned link:
https://imazzea.biz/forums/thread/11/
(login to imazzea and can also ask your querries there. Experts are there to reply.)
or
https://imazzea.biz/read-blog/156
Regards
Sweta!!!!
And you can also reffer here:
https://m.facebook.com/story.php?story_fbid=2030809550465466&id=2025142321032189
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