Return filing U/s. 44AD and 44ADA for Traders
This query is : Resolved
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10 February 2023
Dear Sir,
One of my client is into business of trading of Industrial products. I want to know can I file his Income Tax Return U/s. 44AD. His Turnover is below Rs. 50 lacs.
Please advise in this matter.
Regards,
Divyesh Jain
One of my client is into business of trading of Industrial products. I want to know can I file his Income Tax Return U/s. 44AD. His Turnover is below Rs. 50 lacs.
Please advise in this matter.
Regards,
Divyesh Jain
10 February 2023
If Individual or Huf or partnership firm; then yes, is eligible.
10 February 2023
It's an individual. Can he file return under Section 44AD as he is a trader.
10 February 2023
Yes eligible, provided there is no commission income along with it.
10 February 2023
Ok Sir, Thanks for your reply
10 February 2023
Most welcome.
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