watch_later 10/01/18

Respected Sir,

One of my friend filled his income tax wherein Turnover was  Shown as 42 Lakh for F.Y 15-16 now while filling 16-17 return i want to show income anyways higher than what is shown in 15-16 but by showing less turnover with high margin under 44AD 

I m doing this because my friend was not register with vat previously despite of showing such high turnover and now from F.y 17-18 i guess they are gonna track GST turnover along with income tax turnover i have taken his gst reg recently in december so i just meant if i m showing less turnover with high margin can bring trouble for me.

Under Sec 44 AD can i show net profit percentage different in different year i mean if i was showing 8% percent and all of sudden with less turnover more margin say 20% can invite problem for me ????

2 Responses | Latest response: 09/02/18 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 09/02/18

Dear Pulkit Sir

Kindly answer this question. I am also coming across this problem 

watch_later 09/02/18

Dear Akash Ji

What is source of Income of you friend. What is his business?


Sign up to discuss taxation, accounting and finance topics with experts from all over India.

Join Discussion