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44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2017 ONE OF MY CLIENT IS TRADER. His Gross turnover is less than 1 crore in F.Y. 2016-17. & he shown Less than 8% profit of his turnover.

My question is that whether 44 AD applicable on them.
and if he does not applied 44AD then what consequence was arises.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 June 2017 44AD is applicable if his business falls under "eligible business"
Get the accounts audited if the profit is less than 8%

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