Sec 44 ad for real estate business

This query is : Resolved

anees vp (Querist)
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11 December 2014 Sir
One of our client is doing real estate business, His turnover during the last two previous years is Rs.25 lack and Rs 20 Lack. Whether he is covered u/s 44 AD? Whether he has to maintain books of accounts, because his taxable amount u/s 44 AD is less than Net Profit? This is his first time return.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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11 December 2014 is he an agent? pls specify in detail.......

Rupesh Jain

Rupesh Jain (Expert)
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12 December 2014 he is doing business of construction then mainting the books of account.

he is trader/commission agent then he can declarer the profit u/s 44AD

anees vp

anees vp (Querist)
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12 December 2014 Sir
He is not a agent and he is not doing any construction business but he purchase land and divided to small parts and sell it . All transactions are in cash mode there is no bank transactions because it is in rural area and it is only possible to receive sale consideration by cash only...,

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