Can i avail 44ad of income taxlding

26 July 2019

I am running a hotel business in my own building

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Ravi SADhiyan (Practice) (4510 Points)
Replied 26 July 2019

Originally posted by : Suja Krishnan
	I am running a hotel business in my own building

Yes You are eligible for 44AD under income tax act

and show income 8% or 6 % ( in case of receipt in Bank )

CA PREM KUMAR (Chunduru & Co) (296 Points)
Replied 26 July 2019

IF TURNOVER IS LESS THAN RS. 2 CRORES (INCLUDES RECEIPTS TO YOUR ACCOUNTS), THEN YOU ARE ELIGIBLE TO FILE UNDER 44AD

Suja Krishnan (9 Points)
Replied 26 July 2019

In case of receipt in bank means...All the income should be by bank.Can u pls elaborate?

Ravi SADhiyan (Practice) (4510 Points)
Replied 28 July 2019

Show Net Income below 8 % but not less than 6 %

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