Applicability of Sec 44AD
This query is : Resolved
28 July 2007
Sir,
Do sec 44AD of IT Act is applicable to a Builder who buys plots of land & deploys his own resources (without subcontracting) to construct the buildings & sell it?
Thanks
Do sec 44AD of IT Act is applicable to a Builder who buys plots of land & deploys his own resources (without subcontracting) to construct the buildings & sell it?
Thanks
29 July 2007
It could apply provided he qualifies his activity strictly within the definition of civil construction. Else he could have another sub contractor outfit doing it..
30 July 2007
A Builder is the one who actively involved in the activity of construction and sale of flats. (in general).
In ur case, it is builder only..
so sec 44AD applies.
In ur case, it is builder only..
so sec 44AD applies.
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