my turn over for the F Y 2017-18 is 60 lakhs and it is through by account payee cheque and net profit is 24 lakhs, even though shall I show 6% of gross turn over as a taxable income and pay tax accordingly.
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Section 44AD
Replies (5)
yes you can..
if you have higher income then you have to show such income in ITR
Anmol I think what you said is correct, if my income is below 6% then I have to show 6% and pay tax accordingly, but if it is higher then 6%,then income as per the books to be shown. m I correct
yes Paresh you are correct
if turnover is upto 2 crore then in that case you can for presumptive basis under section 44ad and assume income is 6% so u can gofor presumptive
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