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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2013 Dear Sir,
In one of the case of individual assessee net sales in fy 2012-13 are Rs. 98 lacs and tax charged thereon is about 12.50 lacs, which is charged seperatly in invoices.
Whether the assessee can opt sec. 44AD.


Please clarify.
Thanks and regards.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 June 2013 Your gross turnover includes Taxes exceeding the limit u/s.44AB so you cannot opt the sec.44AD

You need to comply with provision of 44AB

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