Please Help: Section 44AD
Posted Date : 29-Dec-2018 , 12:04:25 pm | Posted By Deepak
An assessee showing PGBP income u/s 44ad in AY 2018-19. Now he's having salary income in AY 2019-20.
Does the question of tax audit arise to the assessee?
Does the question of tax audit arise to the assessee?
Category : Income Tax | Answers : 1 | Comments : 2 | Hits : 406
Answers
Answer By: AKANKSHA
Salary Income is not covered under section 44AD for Tax audit.
Only income from Business or Profession are covered under the said section.
Only income from Business or Profession are covered under the said section.
Comments
gurdeep ahuja
02-Jan-2019 , 07:19:57 pm44Ad is covered for Business Income on Retail Trade @ 8% of turnover. Salary is covered under another head.
Akash Dhanuka
11-Apr-2020 , 07:52:39 amNo, since 44AD is covered in the chapter of business/profession. I guess the base of the query is whether 44AD(4) shall apply or not.. the answer is no .. since ,44AD(4) said that Ig the Assessee op