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44ad

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(Querist)
03 September 2018 HI EXPERTS

ASSESSEE TURNOVER IN HIS TRADING BUSINESS - RS 75 LAKHS.
HE MAINTAINS BOOKS OF ACCOUNTS AND HIS PROFIT MARGIN IS 15%.
CAN HE STILL OPT FOR 44AD AND PAY TAXES ON 8% ONLY?
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Gokul Sharma

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Gokul Sharma (Expert)
03 September 2018 yes you can go for 44ad ... take t.o including taxes then calculate 8 % deemed profit.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 November 2021 Well, he can declare income more than 8%, as per his requirement.
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