U/s 44ad
This query is : Resolved
15 December 2011
sir i consider trading in stk mkt as ma business income from yrs.
in AY 11.12 my turnover is 55 Lac
is it compulsory for me to show 8% net profit or to do audit.
wat if actually i m earning 2% or 40%
in AY 11.12 my turnover is 55 Lac
is it compulsory for me to show 8% net profit or to do audit.
wat if actually i m earning 2% or 40%
Guest
Guest
(Expert)
15 December 2011
It is not necessary that you file your return under section 44AD.
In case you opt to file return under section 44AD and you want to show profit lower than 8% then you have to get your accounts audited.
Thanks.
In case you opt to file return under section 44AD and you want to show profit lower than 8% then you have to get your accounts audited.
Thanks.
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
- Inventory of finished goods
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- GST Regis.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Confusion around Form 26QB fields
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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?
Trending Online Classes
CAclubindia
