!!!!!! really urgent applicability of section 44ad !!!

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2013 This is a really urgent query!!!!!

Is it compulsory to apply section 44AD or does the assessee have the option not to opt for it (turnover around Rs. 7600000 GP ratio
22% NP ratio 4%.

29 June 2013 If you declare 4% profit, then you are not eligible for 44AD.

You have to get books of account audited u/s 44AB.

29 June 2013 You can opt for 44AD by showing net profit more than 8%, other wise you need to get your books audited


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