31 October 2012
Is section 44AD applicable on wholeseller and i have loss in commoditiy trading which is ordinary bussiness is 44AD applicable. Also is 44AD applicable to speculative bussiness
01 November 2012
Turnover of wholesale, retails, contracts of all type of business is considered for cases covered under section 44AD. If gross total income for the year is below the limit liable for minimum tax, no audit is required, subject to other conditions u/s. 44AD.
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