is finance business covered under 44AD
44ad
Swami Ayyappa Nuli (TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER) (1372 Points)
25 July 2013
2 Replies
CA Dhruva Kalamanji
(Chartered Accountant )
(1996 Points)
Replied 25 July 2013
YES >>>>
Section 44 AD is applicable to eligible assessee carrying eligible business and who has not claimed the deduction under section 10A 10AA 10B 10BA or under any provision of chapter VIA under the head "C-deduction for certain income"
elegible assesee: can be any individual or HUF or a partnership firm
Elegible business: can be any businees except those reffered under section 44AE and whoes turnover for a year should be less than 100 lacs...
If the gross reciept and paymet in the financial year through bank transaction exceeds 40lacs then section 44AB is applicable
CA Dhruva Kalamanji
(Chartered Accountant )
(1996 Points)
Replied 25 July 2013
YES >>>>
Section 44 AD is applicable to eligible assessee carrying eligible business and who has not claimed the deduction under section 10A 10AA 10B 10BA or under any provision of chapter VIA under the head "C-deduction for certain income"
elegible assesee: can be any individual or HUF or a partnership firm
Elegible business: can be any businees except those reffered under section 44AE and whoes turnover for a year should be less than 100 lacs...
If the gross reciept and paymet in the financial year through bank transaction exceeds 40lacs then section 44AB is applicable
Recent Topics
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
- Need your valueble insight.
Related Threads
CAclubindia
