Relating to Section 44AD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 May 2011
Does a manufacturer also covered under section 44AD? Is it mandatory to show profit @8% of Gross Turnover of a Manufacturer?
S.A.BADAMIKAR
(Expert)
09 May 2011
44AD is applicable to all businesses. It is not mandatory to show profit @ 8% of GT, if your profit margin is less, then you can declare the same, but you have to get the accounts audited.
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