Agricultural income and section 44ab
This query is : Resolved
10 September 2018
One of my client have Business Receipts (Dairy Farm) of Rs. 186,78,300/- & Agricultural Receipts of Rs. 47,64,300/-. Total Turnover Rs. 2,34,42,600/-.
Whether Section 44AB applicable to him?
Whether Section 44AB applicable to him?
CA R SEETHARAMAN
(Expert)
10 September 2018
Opt 44AD for dairy farm business 44AB not applicable.
11 September 2018
Can you Please tell me, why agricultural turnover not to be included in total turnover for Audit u/s 44AB? Is there any case law or other supporting?
Please reply.
Please reply.
CA R SEETHARAMAN
(Expert)
11 September 2018
Agricultural income is not business income hence not included in 44AB turnover.
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