An assessee whose business turnover is 2.8 Crores and he is filing under section-44AB.He has speculative business transaction of 2Lakhs. Will Section-44AD is applicable for this Speculative business or it won't be applicable????
3 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 17 November 2021
As I understand, since the aggregate turnover is more than ₹2cr, 44AD cannot be opted for.
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