Proprietary business
This query is : Resolved
17 July 2012
If a proprietary business has an annual turnover of Rs. 25 Lakh, then which shall be the best option for it??? Means as an normal assessment or u/s 44AD???
Guest
Guest
(Expert)
17 July 2012
better option is 44AD(8% of turnover). If u dont want to apply 44AD than u need to get audit your books of accounts
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17 July 2012
its depend on how much profit you are earned if it is less then what comes under 44ad then apply normal provision otherwise follow 44ad.
17 July 2012
Can you give me the suggestions about deductions if we opt for 44AD???
17 July 2012
How much profit is to be given under 44AD??
Guest
Guest
(Expert)
17 July 2012
no expenses will be allowed.... however u can claim deductions under Chapet Vi-A
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Guest
Guest
(Expert)
17 July 2012
8% of sales is the profit
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