Section 44ad
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2012
If turnover of an individual is e.g 15,00,000/- & according to 8% he is showing his profit equal to Rs 120000/- then is he covered u/s 44ad?
15 March 2012
All the Business Holders who are not liable for Tax audit under section 44AB are covers under section 44AD. In your case you said turnover related to the business then he will cover under section 44AD.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
11 January 2014
However if your income does not exceed the basc exemption limit, then 44ad does not apply. In your case if the actual profit is less then Rs 200000, 44AD wont apply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Refund of AY 22-23
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Confusion around Form 26QB fields
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
- GSTR3B IMS Deshboard ( Rec. Solution )
Trending Online Classes
CAclubindia
