23 January 2012
An individual has 2 proprietor firms. In one turnover is 22L and profit is 53000. In the second turnover is 6L and profit is 5.20L. For calculating profit of 8% u/s 44AD will the profits and tunover of 2 firms be clubbed or does the profit in each firm has to be over 8% of turnover individually ?
CAclubindia
