Profit precentages over Sales

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2010 can anyone help with the pecentages of profit over sales/turnover for different busienss, allowed by income tax board

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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22 February 2010 This is as below:

u/s 44AD -> Civil construction business -> % of profit 8% of total turnover, if total turnover does not exceed Rs. 40,00,000 from the same business.

u/s 44AE -> Transport Business -> Profit is Rs. 3500 PM for heavy vehicles and Rs. 3150 PM for Light Vehicles, provided if total no. of vehicles are not exceeding 10 during the previous year.

u/s 44AF -> Retail Business -> % of profit 5% of total turnover, provided total turnover is not exceeding Rs. 40,00,000 per annum during the previous year.

Other are applicable for Non-resident like 44ABB etc.

Regards!!!
Dinesh S. Adhikari