Profit as per normal books of account 450000, and 8% of turnover is 260000. in the above case can we declare 8% u/s 44AD.
Profit as per normal books of account 450000, and 8% of turnover is 260000. in the above case can we declare 8% u/s 44AD.
Yes... You can if your business is eligible and Follow as per sec 44AD...
if opt to Presumptive Taxation scheme then no need to File PandL and BS except Debtors & Creditors Balance, Stock and Cash. Also these are not mandatory...
CAclubindia
