24 January 2012
Section 44AD relates to income offering under estimation basis. As per this section an assessee who doesn't make audit as per section 44AB and having business income should be offer 8% minimum profit on it's gross turnover/receipts. i given you short explanation for your understanding for full details regarding form whom it applies,meaning of gross turnover and exemption to this section etc.... go through this section by comparing with my explanation. OM SAI SRI SAI JAI JAI SAI
CAclubindia
