44 ad

Piyush (Manager) (64 Points)

12 April 2012  

How the 44AD is applicable in the following 2 cases:

1) Turnover 35 lakhs and income 5 lakhs. i.e.>8%

2) Turnover 40 lakhs and income 2.5 lakhs i.e. <8%.

Also turnover means gross or net turnover?

Thanks in advance