44AD income tax
This query is : Resolved
27 July 2023
10 lack receipt cash se hai aur 5 lacks banking se total profit 110k hai ab uska ration 7.33 araha hai ye 8 percentage ke neeche ja raha hai notice a sakta hai 10 lack ka 8% profit 80000 aur 5 lacks 30000
Total profit 110k but sir total ratio 7.33 araha hai please explain
Total profit 110k but sir total ratio 7.33 araha hai please explain
27 July 2023
For cash receipts 8% while for Bank receipts 6% are minimum requirement, which are satisfied as per Sec. 44AD IT act. So, if you are declaring the income u/s. 44AD, no question of any query or defective notice.
27 July 2023
But sir agar 8%aur 6% to Maine show krdiya uska total profit 8% ration ya usse above Jaye 44ad bolta hai
27 July 2023
Cash turnover margin is 8%, but for turnover through banking channel is 6%. Declare that minimum percentage; it will be accepted.
12 September 2024
Good Luck.
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