13 October 2017
my client turnover is 80 lacks. if he avails 44ad , the profit @8% will come 6.40 lakh. and pay tax on it. int on cap 4lakhs and remuneration is 2.50 lakhs. which is not allowed from ay 2017-18. is there any option except go for audit, showing below 8% profit
13 October 2017
From AY 17-18 i.e now assessee can take profit @ 6% u/s 44AD if it is received through Bank i.e otherwise than by cash and bearer cheque
CAclubindia
