BOOK PROFIT OR NET INCOME U/s 44AD IN THE BALANCE SHEET

Yaswanth G M (Student) (24 Points)

16 October 2024  

Assume the profit as per 44AD is less than the book profit. So we will file ITR as per 44AD in ITR-4. Which profit should be added in the capital account in the balance sheet? And why shouldn't we add actual book profit in the capital account irrespective of filing ITR under 44AD.