Dear Friends
It is Net Profit or Gross Profit which is considered for 8% ?? Please clarify. I mean it is net profit to be more than 8 % or Gross Profit?
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Section 44 ad: term income means gross profit or net profit.
Replies (3)
if u file ur return u/s 44ad than its 8% of turnover
HIII
FOR 8% OF TURNOVER, WE HAVE TO SEE NET PROFIT NOT GROSS PROFIT.
OK
profit under 44ad is considered net profit.
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