Neha sharma (-) (1257 Points)
13 May 2013One of our clients is currently running a website and earning through advertisements...
Can he apply Section 44AD and show his Income @ 8% of total turnover ??
Moreover, in case he opts for application of this section, can the AO say that your income is not 8% but is 20% ???
Sonam Bidasaria
(CA)
(770 Points)
Replied 13 May 2013
Yes, the assessee can opt for Sec 44AD, but i think, w.e.f 1.04.2013, Alternate Minimum Tax under Sec 115JC will be applicable to every assessee other than company. So, he should opt for 44AD keeping in mind the provisions of Sec 115JC.
CAclubindia
