Applicability of 44AD Amendments in budget 2016

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mitesh shah (Querist)
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04 June 2016 Is the turnover limit for business made 2 crores from AY 2017-18 or AY 2018-19?(For s 44 AD) Are all amendments are applicable From 1/4/2017 only?(S 44AD? The limit of Turnover for S 44AB is 1 crore or 2 Crores For AY 2017-18(Fina. Yr 2016-17). Is the turnover limit for SSI unit will be increased from 1.5 Crores to 2 Crores? Is advance tax for 44AD applicable for Financial Year 2016-17?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 June 2016 1 Turnover limit of 2 crores applicable from AY 2017-18 for 44AD.
2 The limit of turnover for 44AB is 2 crores for AY 2017-18.
3 No change in turnover for SSI unit.
4 Advance tax payable by 15th March in single installment.

mitesh shah

mitesh shah (Querist)
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05 June 2016 Thanks Seetharamanji.

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