44ad limit is after remuneration/interest or before?

This query is : Resolved

CA Kunjan - www.canaresh.com (Querist)
Follow

05 October 2020 whether tax audit is applicable or not --->

44ad limit of 8% / 6% has to be compared with profit after remuenration and interest or before charging remuneration / interest?

i understand, it should be after remuneration / interest, that profit is to be compard with 8/6% of turnover.
another query===> if 44ad was applicable for asst.1920 but audit was made u/s. 44ab, i understand 5 years i have to get the books audted.

regards, ca kunjan, 9222 9222 92, mumbai

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

05 October 2020 It should be before remuneration / interest, that profit is to be compard with 8/6% of turnover.
It's like this once opted our of 44AD we have to wait for 5 years for opting back to 44AD.