Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177972 Points)
Replied 31 August 2018
U/s. 44AE......... there is no upper limit for profit margin.......
Jayaram
(Senior Finance Officer)
(398 Points)
Replied 31 August 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177972 Points)
Replied 31 August 2018
Only gross receipts can be verified, no books of accounts required to be maintained.
So, even if any query raised (no chance when profit margin more than minimum requirement) you are to provide gross receipt details from bank statements or cash book........
Jayaram
(Senior Finance Officer)
(398 Points)
Replied 31 August 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177972 Points)
Replied 31 August 2018
OK !!!
Schedule 44AE..... ITR4 ......
Sr. 1....... Column 'A'........ 12 ........... Column 'B' ...... Rs. 32667.
Jayaram
(Senior Finance Officer)
(398 Points)
Replied 31 August 2018
CAclubindia
