Applicability of 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2013
My one of the client is partnership firm. Their main business is to manufacture automobile parts on works contract basis. Whether it is compulsory for them to show 8% profit if their turnover for AY 2013-14 is below 1 crore Rs
03 August 2013
It is compulsory to file the return by showing 8% Profit as the turnover seems to be significant.
.
If Books of account are maintained , then there is one more option available. That should be exercised when the net profit is less than 8% of turnover.
.
.
If Books of account are maintained , then there is one more option available. That should be exercised when the net profit is less than 8% of turnover.
.
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2013
thank u sir
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