Applicabality of section 44 ad
This query is : Resolved
28 February 2012
Hello Sir/Madam,
Does benefit of section 44ad is applicable to every business which is not covered under tax audit?
Please reply answer of my query as soon as possible.
Thank You Sir/madam.
Does benefit of section 44ad is applicable to every business which is not covered under tax audit?
Please reply answer of my query as soon as possible.
Thank You Sir/madam.
28 February 2012
Section 44AD is applicable to every business except the business of plying, hiring or leasing goods carriages referred to in section 44AE.
Further, the assessee should be an individual, HUF or a firm but not an LLP.
Turnover or gross receipts should not exceed Rs. 60 lakhs.
Further, the assessee should be an individual, HUF or a firm but not an LLP.
Turnover or gross receipts should not exceed Rs. 60 lakhs.
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