10 March 2016
sir, i am a doctor running nurshing home total recipt <50 lacs kya 1st april ke baad daily cash balance nikalna expenditure daily ka daily dikhana is mandatory or not if i choose section 44ADA FOR COMPUTATION
10 March 2016
Dear you can opt for section 44ADA and then no need to maintain any daily books. You only need to account daily receipts. But under section 44ADA it is mandatory to show minimum profit @ 50% of total receipts and no expense will be allowed to be deducted from the profits derived.
CAclubindia
