Presumptive Taxation 44 AD doubts
Hi,
I have an entertainment website that generates revenue from display ads.
Few points:
1. The business is not registered yet.
2. Income comes in dollars from a US-based company.
3. Revenue is less than 1 crore.
3. Need help regarding 44 AD and If GST registration is needed.
My doubt:
1. Can I file 44AD without registering the business which means directly from the PAN account where income gets deposited?
2. Some CAs are arguing that if your profit is more than 6% then you have to show the actual profit. My profit is more than 60% but I want to show the 6% only. Is that ok?
Here I have found a case where the assessee challenged the AO officer and won the case just showing minimum profit even though the profit was much higher.
https://indiankanoon.org/doc/151903937/
https://www.caclubindia.com/forum/profit-under-section-44ad-ada-473205.asp
Here tax2win CEO says that only a minimum of 6% is required even if profit is higher.
https://tax2win.in/guide/section-44ad-44ada-44ae