Hello,
Please tell me that the criteria of Profit must be atleast 8% of total income is applicable in all cases or is only applicable when we are filing ITR- 4S
1 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 11 August 2015
If your business is eligible business then you can offer income under sec 44AD in which case , profit is deemed to be minimum 8% , however you can show higher profit. The selection of ITR form depends on other incomes too.( Offering 8% and ITR FORM 4S has relation to some extent, but not in absolute terms ). Selection of form depends on incomes under other heads too.
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