Deemed Income u/s 44AD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2011
one of client builder, for the year ending 31.03.2010, his turnover was Rs.52 lac, hence, it was audited and filed his return, but this year 31.03.2011, his contract receipts is only 55 lac can he file his return u/s 44ad
pl clarify
pl clarify
CA PARAS BAFNA
(Expert)
07 July 2011
Yes, Section 44AD is a boon to the civil contractors and he can get the benefit by showing presumptive income U/s 44AD.
CMA RV Padmakumar.A
(Expert)
07 July 2011
yes, since TO is < 60 lakhs
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