Pawan Mittal (CA Final) (711 Points)
28 March 2013Mr. X is running 3 businesses namely A, B and C and having turnover of Rs. 50 lacs from each business.
Mr. X is also running business D whose turnover is Rs. 30 lacs and he does not maintain the books of accounts of business D.
Now can business D be covered u/s 44AD?
varsha
(ca inter)
(47 Points)
Replied 28 March 2013
yes , business D covered u/s 44 AD because its turnover is below rs. 1crore .........................................
CA Mahavir Shah
(Practicing Chartered Accountant)
(1130 Points)
Replied 28 March 2013
Yes he can claim that Business U/s 44AD.
Ramanuj
(Accountant.)
(834 Points)
Replied 30 March 2013
i think Mr X is not cover u/s 44ad because Mr x has Total turnover 50+50+50+30=1.80 lac.
Mr X have cover u/s section 44AB. please see ready reconer Mr Sighaniya. If Total turnover Receipt above 1 Crore cover u/s 44ab. Please Confirm Mr Shah ji.
Thanks
Regard
Ramanuj
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