Please Help: Applicability of Section 44AD
Posted Date : 15-May-2013 , 11:29:16 am | Posted By UTSAV MEHTA
Whether section 44AD is applicable if i have 3 different businesses having turnover exceeding Rs. 1,00,00,000 in F. Y. 2012-13 in total but having turnovers less than Rs. 1,00,00,000 in each eligible business?
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 73
Answers
Answer By: Rishabh Upadhyay
no, section 44 AD will be applicable only if the total turnover of the particular business exceeds 1 cr, or if you want to claim profit ratio below 8%
Comments