what is the concept of section 44 AD of income tax.
ankita Goyal
(Student CA Final)
(113 Points)
Replied 05 May 2012
Hello Ravish
Sec 44AD of Income tax Act is applocable to assesses carring on business whosw gross turnover is not not more than 60 las . they are not required to maintain the books of accounts and can pay tax at the rate of 8% of the total turnover or gross receipts on presumptive basis.
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