Section 44ad

yes u can file return u/s 44ad but u hv to show atleast 8% profit of the turn over.....NO NEED OF AUDIT IF TURN OVER IS BELOW is 60 LAKH

 

 

 

THANKS

 

SHIKHAR.

But actual turnover is 9 lac something.

Yes you are free to adopt section 44ad and show 8% income 

Originally posted by : shikhar
	yes u can file return u/s 44ad but u hv to show atleast 8% profit of the turn over.....NO NEED OF AUDIT IF TURN OVER IS BELOW is 60 LAKH       THANKS   VIKAS

As per my view there are many factors i.e 1. Job work is considered upto 10lacs. 2. when you take job works from registred big companies they have there own rules i.e when it cross Rs. 30000/- per job work they deduct TDS u.s 194 C 3. however now it has became 1 crore for audit of the firm below 1 crore there is no audit but you have to show 8% or more profit. & as you told turn over is around 9 lacs you have to pay service tax @ 12.36% *( current rate ) if you giving service to others ( means job works ) Please comment if i wrong or write in this subject.