DEAR SIR
ONE OF MY FRIEND ARE REGISTERED AS A CONTRACTOR OR RETAILER. BUT NOW HE IS ONLY PERFORM AS A RETAILER. SO THE NET PROFIT IS REDUCE AND ITS GONE LESS IN COMPARE TO LAST YEAR PROFIT. FIRM TURNOVER IS EPX. 12 TO 15 LAC. AND WE ARE TAKE PREVELIAGE OF SEC. 44AD.
TELL ME IT IS POSSIBLE TO FILE LESS INCOME IN COMPARE OF LAST YEAR INCOME IN ITR.
LAST YEAR NET INCOME IS 4 LAC BUT IN F.Y. INCOME REDUCE AND NOW IT IS 225000 LAC. WHAT INCOME WE WILL TAKE TO FILE ITR
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