query on 44AE
Sri Snigdha (Articles Assisstant) (497 Points)
28 May 2018Sri Snigdha (Articles Assisstant) (497 Points)
28 May 2018
ALKESH T MEHTA
(SR.ACCOUNTANT)
(346 Points)
Replied 28 May 2018
Suppose,your i turnover of the year is lessthan Rs.2 Cr.,then 8% of it Rs.16lakhs,is to be declared as profit & tax is to be paid accoridngly.In case of digital receipts 6% of Rs.2Cr.i.e Rs.12lakh scan be considered as income .You are not supposed to keep books of account or get audit in case of Sec.44AD.This option is better.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"