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Rate Applicable under section 44AD

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(Querist)
13 March 2017 whether 6% of gross turnover under section 44 AD is applicable for financial year 2016-17 or not ?
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
13 March 2017 it is applicable for FY 17-18 and not for FY 16-17
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CA Gopal Somani

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CA Gopal Somani (Expert)
14 March 2017 For Digital Transactions, it is applicable from FY 2016-17

http://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/571/Measures-Promoting-Digital-Payments-Creation-of-Less-Cash-Economy-19-12-2016.pdf
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