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Can i take benefit of 44ad for sl-3?

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Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2013 My turn over is less than 1 cr. 2012-13 and my nature of business are
1) Sale of Computer parts
2) Computer servicing less than 10 lakhs limit
3) Online income i.e. online ticket booking, online filling of forms etc.

Can I take benefit of 44AD for SL-3. In that case how I will prepare my PL and BS. and how tax will be computed. May I calculate tax normally for Sl-1 and SL-2 and for SL -3 may I get the presumptive scheme.

Please help

CA Vikas Acharya

CA Vikas Acharya (Expert)

25 April 2013 yes you can take the benefit of 44AD, no need for books maintaining and tax audit as per 44AD rules.

and, yes as you are individual you can take the slab rate too.
(even if there would be tax audit, for individuals only slab rate is applicable)

NOTE: if you working as an agent for ticket booking, then for that agency income you can show income from other sources (if its not your main business) as agency business is not allowed for 44AD.

So just show any profit but net profit mut be more than 8% and relax as no books maintenance req for income tax purpose.,

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