DEAR ALL,
I AM MAINTAINING ACCOUNTS OF SMALL FIRM WHERE IN THE PREVIOUS FINANCIAL YEAR THE PROFIT WAS ADJUSTED UPTO 8% AND WAS RETURN FILED ACCORDINGLY.
BUT NOW THE TURNOVER IS RS 1.23 CRORES AND STOCK IS MAINTAINED ON INVENTORY BASIS, PLEASE SUGGEST IF POSSIBLE CAN WE ADJUST THE PROFIT UPTO 8% AND FILE ITR, IRRESPECTIVE OF INVENTORY
PLEASE GIVE ME APPORIATE SOLUTION
THANKS IN ADVANCE