Net Profit rate

[RAJESH SAWHNEY]

Net Profit rate in case of Carriage Contractors with annual turnover of about 3 to 4 crores.

[Surender Gupta]

Please put only relevant query with details. There is no prescribe rate of net profit in case of carriage contractor under income tax. You have to to work out as per prescribed procedure only.

AI Summary

Net profit rate: no prescribed standard for carriage contractors; computation must follow prescribed procedure under income tax.
There is no fixed or prescribed net profit rate for carriage contractors under income tax; net profit must be determined by applying the prescribed computation procedure rather than using an industry-wide rate.