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Presumtive income

Page no : 2

ashutosh bhardwaj (Law) (43 Points)
Replied 17 July 2011

 

Originally posted by : hiren gala
But Can't we File the Retail business Income inocme under 44AF showing only  5% of Turnover rather then go with 44AD as an 8% of Turn over & to show income as presumtive income


Gdm Dear hiren gala


According to Sec. 44AF(6)  section 44AF shall not apply to any AY begnning on or after 1.4.2011.

It is only 44AD now for presumptive basis for ITR........... 



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