Section 44AD computation to know your tax liability and plan accordingly whether to go for 44AD or not. Please find the attached excel file.
Section 44AD Calculation Know Your Tax Liability
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Sara Mathur
Sara Mathur 
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Hello ,
I have gross receipts of Rs.30 Lacs. All Cheque + Cash payments into bank account
I have only 10 Lacs business expenses (including purchases).
So is it ok if I pay tax on only .08 * 30 = 2.4 Lac rupees – net profit.
Or do I have to pay tax on 20 lac.
The balance 20 lac will remain in my bank account.
Also can you help differentiate between profession and service business.
i am newspaper vendor. Gross Receipt 23,50,000. net profit 3,15,000 . invest 80C & 80D 45,000 . one house rent income 36,000. can i return filed 44ad ? last dt of filling ? maintain books of A/c ? can i show profit more than 8% ( mt actual net profit. )
please give me answer in detail by mail.