Hi
Please let us know if a business having gross receipt around 35 lacs and its loss around 2 lacs . in such case 44AD will attract.
Its required to get book of accounts audited?
New Presumptive taxation u/s 44AD from AY 2011-12
Page no : 3
v.sankaranarayanan
(executive)
(16 Points)
Replied 14 June 2013
kindly clarify my client doing homeloan processing and getting commision whether he fan file
under persumtive tax itr 4s total turna over arround 20 laks
v.sankaranarayanan
(executive)
(16 Points)
Replied 14 June 2013
kindly clarify my client doing homeloan processing and getting commision whether he fan file
under persumtive tax itr 4s total turna over arround 20 laks
kirit
(proprietor)
(33 Points)
Replied 10 August 2015
Hello.. Any one Can clarify me Assessee having Coaching Class-Tution Income Can he opt for 44AD ?
SHRMONEY
(solve legal finance problems - shrmoney@gmail.com)
(148 Points)
Replied 15 July 2016
whether basic exemption is allowed.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 15 July 2016
Yes, Basic Exemption limit of Residential Individual & HUF is considered
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 15 July 2016
Originally posted by : kirit Hello.. Any one Can clarify me Assessee having Coaching Class-Tution Income Can he opt for 44AD ?
No. any professional income not considered in Original Section 44AD. But for them new section 44ADA with 50% margin has been introduced, which is effective from Ass Year 2017-18.
SHRMONEY
(solve legal finance problems - shrmoney@gmail.com)
(148 Points)
Replied 15 July 2016
It is applicable to professionals also but the income will be fifty percent and eight percent.
SHRMONEY
(solve legal finance problems - shrmoney@gmail.com)
(148 Points)
Replied 17 July 2016
it is added for professions but income to be declared as fifty percent and not eight percent as for buisness.
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