44 ad of income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 August 2014
INSTANCE:
IF IT IS A PARTNERSHIP FIRM HAVING LOSS OF Rs.1,90,000 AS PER BOOKS OF ACCOUNT, SECTION 44 AD IS APPLICABLE OR NOT???? PLEASE REPLY
IF IT IS A PARTNERSHIP FIRM HAVING LOSS OF Rs.1,90,000 AS PER BOOKS OF ACCOUNT, SECTION 44 AD IS APPLICABLE OR NOT???? PLEASE REPLY
Nikhil Kaushik
(Expert)
02 August 2014
if the business is covered under eligible business and total turnover is less than 1 cr, then yes 44AD shall apply.
Rupesh Jain
(Expert)
02 August 2014
if your turnover is less than 1 crore then 44Ad applicable . if exceeds then 44AB applicable.
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