section 44ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2011 i have share trading business[i show income from share under business head]turnover 59 lac and profit 1 lac.salary receipt 60 thousand andint. receipt 60 thousand and int. payment 80 thousand.please advice me is section 44AD applicable to me.and i should audited my account

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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01 May 2011 IF U APPLY SECTION 44ad THEN U WLD HAVE TO DISCLOSE 8% PROFIT WHICH IS NOT THE CASE SINCE UR T?O IS LESS THAN 60L U NEED NOT GET ACCOUNTS AUDITED UNDER SECTION 44ab ALSO

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