Poonawalla fincorps
Poonawalla fincorps

Sec 44ad application to co op society

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 September 2014 Hi,

Can anybody Confirm me the application of Section 44AD to Co.OP. Society, As they are getting exemption U/s 80P and their Turnover is below 1 Cr and Profit shown below 8%, are they need to get their books of account audited U/s 44AD

Please give your comments asap.

Thanks in Advance
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 September 2014 no. cooperatives cannot use 44AD. only individuals, HUF and Firms (not LLP) are covered.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 September 2014 agreed co-op cannot opt for sec 44AD.
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