I am civil contractor, my gross receipts value was 15,00,000.00 (receipt & payment transactions through bank a/c only) and as per my accounts net value was 3,75,000.00 then income tax was 22,145.00
if I show my income U/s44AD (8%)then net value will be 1,20,000.00 then no tax
so can file my return U/s44AD ?
if I show like this do I get any problem from income tax department in future
Is there any particular instructions in income tax act
CAclubindia
