Itr 4s vis a vis sec 44ad

Saurabh Maheshwari (B.com,ACA) (5923 Points)

24 June 2012  
Dear friends, suppose mr.x busi. T/o is 30 lacs for f.y 11-12 and his net profit as per p&l a/c is 20 lacs then- In Itr-4s his deemed Net profit is 8%of t/over or rs.20lacs.PLS CLARIFY. Thanks