4 results for “section 68”+ Section 8(2)clear
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Section 145(3) of the Act. The Assessee vide letter dated 16th November, 2016 filed through the Ld. Counsel, submitted that the assessment be completed by calculating NP rate of 8% of gross turnover since the turnover of the firm is below Rs.1.00 Crore as provided u/s 44AD of the Act. Net profit rate of 8% was accordingly applied