44ad of income tax
This query is : Resolved
26 March 2014
Hi expert
One of my Proprietor Client doing two Bisiness
1. JOB Working
2. Trading
Now Total T/o is 1.3 crore( 7 lac- Job Work and 60 lac -trading )
In this case whether I can go for 44AD in case of trading as t/o is 60 lac and in case of JOB work regular return
One of my Proprietor Client doing two Bisiness
1. JOB Working
2. Trading
Now Total T/o is 1.3 crore( 7 lac- Job Work and 60 lac -trading )
In this case whether I can go for 44AD in case of trading as t/o is 60 lac and in case of JOB work regular return
26 March 2014
nopes..given that both the businesses are covered under 44AD eligible businesses, you are not eligible as cumulative turnover is in excess of 1 cr.
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