Clarification regarding income tax
This query is : Resolved
17 October 2016
MY TURNOVER IS BELOW 1 CRORE AND I HAVE ADOPTED 44AD WHETHER DISALLOWANCE U/s 40a(ia) is applicable or not?
17 October 2016
When opted for 44AD, dis allowance u/s 40a(ia) is not applicable.
17 October 2016
40(a)(ia) is not applicable. because income is computed as a percentage of turnover. no question of disallowance of expenses
17 October 2016
not applicable. All deductions are presumed to have been claimed
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