Section 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2012
Dear Sir,
Suppose actual net profit is Rs. 182000/-, however assessee opted sec. 44AD and declared net profit Rs. 215000/-.
Now please advise me, I should transfer Rs. 182000/- or Rs. 215000/- to assessee capital a/c.
Please reply soon.
Suppose actual net profit is Rs. 182000/-, however assessee opted sec. 44AD and declared net profit Rs. 215000/-.
Now please advise me, I should transfer Rs. 182000/- or Rs. 215000/- to assessee capital a/c.
Please reply soon.
31 August 2012
Your profit as per accounts(as shown in return) is 215000. Hence this should be added to the capital account.
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