Section 44ad applicable
This query is : Resolved
21 August 2013
Plz help me in case of Amount received from company for rent on plant and machinery Rs.55 lakh on which 2 % TDS is deducted by company and contract payment of labour supply to company Rs.40 lakh on which also 1% TDS is deducted.So my total receipts is Rs.95 Lakh and TDS is 1.5 lakh.
Can i use 44 AD section and show net profit above 8%.Book are not required
Can i use 44 AD section and show net profit above 8%.Book are not required
21 August 2013
mention about the business of your company for proper advising.
21 August 2013
Since you are the contractor and your profit is above 8% of the total turnover than you can file your return in form No. 4S and take the shelter of Section 44AD
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Not a CA , can we prepare balance sheet
- Income Type for interest from government bonds
- TDS RATE ON RENT PAID TO NRI
- TCS ON SOFTWARE SALES
- Gstr 9 2023-24
- Tax complication when received my money which was given to relative without consideration on their n
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- FREELANCING ACCOUNTANT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
