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Deemed Income u/s 44AD

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Querist : Anonymous

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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
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CA PARAS BAFNA

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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.
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CMA RV Padmakumar.A

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CMA RV Padmakumar.A (Expert)
07 July 2011 yes, since TO is < 60 lakhs
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