Sir,
If our receipts under section 44ADA is Rs. 34 lakh but our actual expenditure is of Rs 6 lakh then can we show only 50% of income i.e. 17 lakh or not.
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Receipts under sec. 44ADA
Replies (2)
Yes, you can show.....
Issues faced in this regard
1. Missing out on financials of current year
2. Issue whiling submitting 3 year financials for loan
3. If there is audit ij subsequent year, qualified opinion about opening balances being unaudited.
1. Missing out on financials of current year
2. Issue whiling submitting 3 year financials for loan
3. If there is audit ij subsequent year, qualified opinion about opening balances being unaudited.
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