Ion of scrutiny provision applicable in it act
kollipara sundaraiah (B.com) (2923 Points)
10 May 2024question:
selection of scrutiny provision applicable in it act
kollipara sundaraiah (B.com) (2923 Points)
10 May 2024
Nikhil Kaushik
(Fellow CA)
(85435 Points)
Replied 11 May 2024
if you are covered under 44ADA, you are not allowed to claim any benefits under 44AD. be always clear about this.
If there are cash transactions > 50 lakhs, you will end up receiving a notice.