15 March 2016
One of my client is small contractor. His income (turnover) during FY 13-14 is Rs. 15.00 Lakhs and also he earned agricultural income of Rs. 50,000/-.. My question is Presumptive section 44AD is applicable to this client ? can we consider income as 8 % of Rs. 15.00 Lakhs under section 44AD and file ITR 4S?
CAclubindia
