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44 ad of income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 August 2014 INSTANCE:
IF IT IS A PARTNERSHIP FIRM HAVING LOSS OF Rs.1,90,000 AS PER BOOKS OF ACCOUNT, SECTION 44 AD IS APPLICABLE OR NOT???? PLEASE REPLY
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
02 August 2014 if the business is covered under eligible business and total turnover is less than 1 cr, then yes 44AD shall apply.
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Rupesh Jain

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Rupesh Jain (Expert)
02 August 2014 if your turnover is less than 1 crore then 44Ad applicable . if exceeds then 44AB applicable.
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