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Appli. of 44AD for Restaurant Business-Restaurant Business

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(Querist)
09 October 2020 Dear all..

I want to know one of my clients who run a restaurant business and his annual gross receipt is around 25lacs.

Can he file his income tax return under 44AD on a lumpsum basis and show profit of more than 8%??

Give me your view at earliest.

Thanks in advance.
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Shrikant Toshniwal

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Shrikant Toshniwal (Expert)
10 October 2020 YES HE CAN FILE U/S 44AD OF IT ACT

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