partneship firm
turnover -40 lakhs
net profit - 6 lakhs
books of accounts are maintained
1) so my question is can he claim the deduction u/s 40b becz he maintains books of accounts and show profit more than 8%
2)in above case he count as opt for 44ad or not ?????
1. Yes, provided the net taxable income is equal to or more than 6/8%
2. No.
Very Much sure for..........."Yes, provided the net taxable income is equal to or more than 6/8%" and when not opted for presumptive taxation scheme.
Most Welcome, Dear.........
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
