Poonawalla fincorps
Poonawalla fincorps

6% or 8% profit u/s 44ad for e-com transaction?

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 May 2018 As i am trading on snapdeal (E-commerce) , There is policy that snapdeal, after deducting their commission, remaining amount of sales pays to me.
Suppose, I sell my product of Rs. 1000/- (Invoice Value Rs. 1000/-), Snapdeal, after deducting their commission say 30% (Rs.300/-), pay remaining amount Rs.700/- to me through NEFT.

This Rs. 1000/- Transaction may be of cash on delivery or Non cash on delivery (i.e. online payment).

Now Filling IT Return, Can I claim 6% presumptive profit of gross turnover?
or
I have to declare 8% profit?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
30 May 2018 for you it is online payment only. But remember you need to pay 6% of the 1000 rupees (not on the net amount received).

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