44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 July 2013
one of the director of company is also having proprietorship whose TO is 20 lacs in Fin yr-2011-12 in Fin. year 2010-11 proprietorship have T.O of 7.31 crs.
director salary is 6 lacs per anuam for 2011-12 and 3 lacs for 10-11.
can he apply for 44AD for financial yr 2011-12 from proprietorship
Company`s T.O. is exceeding 2 crs in 10-11 and 11-12
director salary is 6 lacs per anuam for 2011-12 and 3 lacs for 10-11.
can he apply for 44AD for financial yr 2011-12 from proprietorship
Company`s T.O. is exceeding 2 crs in 10-11 and 11-12
09 August 2013
Yes he is an eligible assessee u/s 44AD since his gross receipts do not exceed Rs. 60 lakhs.
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