24 February 2012
Dear sir, A dealer who has opted Sec. 44AD in AY 2011-12 and having turnover crossing the limit of 60 lacs in AY 2012-13 with defacto net profit rate around 2%. My query is that, whether can he declare net profit @ 2% in AY 2012-13 or he has to declare it again over 8% ?
CAclubindia
