Mr. A is having two businesses. one a wine shop and the other is a construction business.
the turnover of each business is 1 crore 50 lakh
can he file return under section 44 ad
In cases where the assessee carries on more than one business activity, the results of all business activities should be clubbed together. In other words, the aggregate sales, turnover and/or gross receipts of all businesses carried on by an assessee would be taken into consideration in determining whether the limit of Rs.2 Crore has been exceeded or not.
In your case aggregate turnover of both business is below 2 core, You are eligible to file ITR 4 u/s 44ad
CAclubindia
