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Scope of section 44AD

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2010 One of my client is the Electricity Contractor and he is providing Labour to the Electricity department and his gross receipt for the P.Y is 80 Lacs and Govt. department is deducting TDS on contractor.
Pls tell whether he can claim income under section 44AD.
And will it require Tax audit.

Also tell will it be change if his gross receipts are 55 lacs.

Pls tell me on priority. Its very urgent
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srinath

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srinath (Expert)
24 July 2010 Once the turnover exceeds RS. 40 lakhs he cannot claim the benefits of section 44AD...

tax audit is compulsory and he has to offer income as per normal provision of the act
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2010 Sir, Pls tell if gross receipts are 35 lacs then section 44ad will applicable or not
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 July 2010 Yes if gross turnover less than tax audit limit then section 44AD applicable. Otherwise not.
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2010 Sir Pls tell can he claim TDS deducted by electricity department on the income calculated as per section 44AD
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 July 2010 yes he can

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