chetan (accountant) (321 Points)
02 June 2011Dear All,
I am getting income from professional services around 2.90 lacs per annum. Can i make balance sheet/P & L. and claim the expenses. bcz my clients has deducted Tds on it.
Pls guide me about this query.
Is it necessary to make P & L if my income is Rs 50 thousand per annum.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 03 June 2011
Prepare a Balance Sheet and a Profit and Loss A/c and claim the expenses.
Regards,
Devendra K
chetan
(accountant)
(321 Points)
Replied 03 June 2011
Is it necessary to get my book audited under section 44 AD
Devendra
(Chartered Accountant)
(4775 Points)
Replied 03 June 2011
Section 44AD does not apply to Professional Services rendered. It is better to make a P & L and a B/S and file the ITR.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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