ONE ASSESSEE IS ENGAGED IN WEIGHING BRIDGE SERVICE. NOW HE WANT TO FILE INCOME TAX RETURN .
BUT WHICH FORM HE SHOULD CHOOSE TO FILE ITR.
CAN HE CLAIM BENEFIT OF SECTION 44AD OF INCOME TAX ACT??
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Section 44 ad of income tax benefit
Replies (5)
Yes, he can declare presumptive income u/s. 44AD by filing ITR4
thank you sir
but there wouldn't be any effect that profit will be very high as normal terms and there will be no stock for submitting in ITR?
but there wouldn't be any effect that profit will be very high as normal terms and there will be no stock for submitting in ITR?
Yes, stock will not be there (can put '0'). And profit margin will also be high, but no restriction to declare high profits....
thank you sir
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