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44AD

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(Querist)
08 March 2010 Electrical Amt. Rs. 20,00,000/-
VAT Rs. 60,000/-

ST Rs. 60,000/-
==============
Rs.21,20,000/-

Please inform Income Tax as per Sec 44AD.
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CA PRIKSHIT GUPTA

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CA PRIKSHIT GUPTA (Expert)
08 March 2010 Income tax will be charged @ 8% of gross receipt. so income tax will be charged on full bill amount of Rs. 2120000.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
08 March 2010 44AD is on Gross receipt. So tax will be 8% on gross amount.
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