Third Proviso to 44AB
raghav khanna (5 Points)
24 August 2021raghav khanna (5 Points)
24 August 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 August 2021
Mitali
(Finance Professional)
(14997 Points)
Replied 16 October 2023
A person carrying on business, if his total sales, turnover or gross receipts (as the case may be) in business for the year exceed or exceeds Rs. 1 crore. This provision is not applicable to the person, who opts for presumptive taxation scheme under section 44AD and his total sales or turnover doesn't exceed Rs. 2 crores.