44ad Presumtive Taxation
dharmik vadgama (Article) (145 Points)
16 December 2018
can an assesee declare 60% profit under 44ad
5 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 16 December 2018
Yes... No more restrictions...
pd23071997
(None)
(388 Points)
Replied 16 December 2018
Minimum 8% must be declared. No cap on higher side.
MOHAMMED IMRAN
(1020 Points)
Replied 16 December 2018
as per presumptive taxation scheme an eligible assessee can pay tax @ 8% or 6% if all the transaction is made through -
by an a/c payee cheque / bank draft or through electronic clearing system through a bank account .
However, the assessee has the option to declare in his Return Of income, an amount higher than the presumptive income so computed , claimed to have been actually earned by him.
by an a/c payee cheque / bank draft or through electronic clearing system through a bank account .
However, the assessee has the option to declare in his Return Of income, an amount higher than the presumptive income so computed , claimed to have been actually earned by him.
Kinjal
(student)
(312 Points)
Replied 08 March 2019
| Originally posted by : dharmik vadgama | ||
 |
acual pofit matter o not |  |
No, That doesn't matter in presumptive assessment.
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