EASYOFFICE
EASYOFFICE

Head for Income

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(Querist)
06 July 2017 Dear expert, Mr. X has business of real estate, he had a raw land as stock, which he sold for 92 lakhs without developing it or performing any construction on it, can this income be offered for 44AD?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 July 2017 Yes this income can be offered for 44AD.
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 July 2017 yes, it can be done... Care should be taken if the actual profit is much above 8%.........
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