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(Querist)
07 October 2012 Sir i two business for one business i have opted section 44AD. And for other business i had prepared my accounts but the net profit is less than 8%. so can i aggregate the total turnover of both the business u/s 44AD and tax at 8%.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
08 October 2012 Yes you can aggregate the income and show a net income of 8% of such receipts.
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Prakash Kochar

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Prakash Kochar (Expert)
08 October 2012 For sect. 44AD turnover of all businesses is to be consider together and declare income @8% of aggregate turnover.
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