Mr.A total business income 10,00,000/= he file itr 4s minimum 8%( no maint. Accounts book) but he declare 40% profit and paid income tax . so my question is in future income tax send any notice regarding for document checking / or expense voucher / income details....
27 July 2016
44AD says...if assessee carrying sligible business, declares 8% or more as the profit, then books of accounts will not be required to be maintained. So Income Tax dept will NOT send any notice etc. No issues at all
27 July 2016
Income tax officer will not ask for further information unless he has got additional information available with him other than the income disclosed in ITR
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