It return

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Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2014 When a small businessman not having proper books of accounts ask to file IT return how to calculate his income.
In case if we file return u/s 44AD how to calculate his turnover, debtors,creditors,stock and cash balance.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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25 February 2014 Section 44AD will be applicable if the turnover is less than Rs. 1 crore.

In that case ask the assessee to give the turnover amount and the profit percentage that he wants to declare.