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44af

This query is : Resolved 
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(Querist)
01 September 2018 HI EXPERTS

MY BUSINESS TURNOVER IS LESS THAN 75 LAKHS PER ANNUM . MY PROFIT MARGIN IN BUISNESS WILL BE AROUND 15 TO 20%

CAN I OPT FOR 44AF AND PAY TAXES AT 8% , EVEN THOUGH MY ACTUAL PROFITS ARE HIGHER.

PLEASE REPLY
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RAJA P M

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RAJA P M (Expert)
01 September 2018 If You are asking about sec 44AD...? If Yes... As per sec 44AD Who is eligible (Assessee and Business) In the section can opt upto Rs. 2cr Turn Over / Gross receipts... Better to check Your business (Also Assessee) eligible for the said Section and go to opt.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
14 October 2021 Sec 44AF discontinued from AY 2011-12.
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