Dear Experts,
under sec.44 ad( presumptive income) we can declare 8% profit on total recipt( if gross receipts not exceeding Rs.60lacs. is this ap[plicable for A.y 2010-11?
please answere me friends.
Thanks in advance.
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Return for a.y 2010-11
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New Section 44AD of the Income Tax Act, 1961 comes into effect from A.Y. 2011-2012 .
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