Sec 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2017
sir i wud like to know if any assessee having gross receipts of 1.5 crores during the f.y 16-17 can opt for presumptive taxation u/s 44ad if he is showing profits more than 8%
09 June 2017
Yes he can do so.
As per Sec 44AD you can declare 8% or more profit if your turnover is below 2 crore.
10 June 2017
yes you can do so but also see you can not go to normal taxation for next few years
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