whether u/s 44ad applicable for jewellery business having t/o below 2 crores?
thanks...
6 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 March 2021
Yes if turnover is less than 2 crores rupees then you can opt for presumptive taxation
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 31 March 2021
yes if they involved in trading then can claim u/s44AD.
Prathyusha Varma
(ArticleShip)
(393 Points)
Replied 31 March 2021
Yes but cash transaction should be less than 5 percentage
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 18 April 2021
Yes 44AD is applicable
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