Can 8% profit calculated under section 44AD be lower than the basic exemption limit of 250000/-.
eg. turnover of 3000000/-. its 8% income is 240000/-. since it is below the basic exemption limit of 250000/- hence no tax is payable?
Can 8% profit calculated under section 44AD be lower than the basic exemption limit of 250000/-.
eg. turnover of 3000000/-. its 8% income is 240000/-. since it is below the basic exemption limit of 250000/- hence no tax is payable?
True, but that could not be only income. Income from other heads are also added up.
if i have income under only business head, then i dont need to pay any taxes.
Theoretically YES.
Karia Overseas
Ahmedabad
CA
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
CAclubindia
