TaxTMI 
TaxTMI 
Net Profit rate in case of Carriage Contractors with annual turnover of about 3 to 4 crores.
Net Profit rate
14 Feb 2009 
1 Reply 
1353 Views Asked by
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. (AI Summary)
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. (AI Summary)