About section 44ad

This query is : Resolved

Rinku Parmar (Querist)
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19 March 2012 Is it compulsory to show profit on Business income from civil constructin @8%of total turnover on presumtive basis as per section 44AD evenif total turnover does not exceed 60lacks or its optional?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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19 March 2012 Whose gross turnover doesn't exceeds Rs.60 lakhs should be offer their income under section 44AD i.e 8% or more profit on gross turnover other wise he has to make audit under section 44AB if his total income exceeds the basic exemption limit and he should be maintain books as per section 44AA.
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