Please Help: Applicability -Sec.44AD
Posted Date : 09-Aug-2011 , 05:59:12 pm | Posted By Ashish Kotecha
In case of pvt. ltd. company, whether provision of sec.44AD is applicable for A.Y.11-12? If pvt. ltd company shows profit below 8%, then whether tax audit is applicable?
Category : Income Tax | Answers : 3 | Comments : 1 | Hits : 2109
Answers
Answer By: CA. MANISH MALHOTRA
Yes provision of sec 44AD applicable for A/Y 2011-12 also tax audit is applicable in case profit want to show below 8%
Answer By: CA. Sachin Data
No dear, the provisions of Section 44AD is not applicable on Private Ltd. Co. and hence the tax audit is required.
Answer By: CA Rajnish
Dear 44AD is not applicable in case of corporate assessee.It is applicable only to Individual/HUF/Partnership firm(Ex.LLP)
Comments
sashi
09-Aug-2011 , 11:12:40 pmNO it is only for "Eligible Assessee" and as per Section 44AD eligible assessee means an individual , HUF, and a firm.