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
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.
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