Section 44 ad
This query is : Resolved
09 August 2013
Sir,
I want to clarify that whether section 44 AD is mandatory to any business who's gross receipts less than 1 crore.
I want to clarify that whether section 44 AD is mandatory to any business who's gross receipts less than 1 crore.
09 August 2013
Section 44AD has automatic application in case gross receipts are less than Rs. 1 crore.
However, an assessee who DOES not want to avail Section 44AD can do so by showing income LESS than 8% of gross receipts. In that case he will have to get his accounts audited.
However, an assessee who DOES not want to avail Section 44AD can do so by showing income LESS than 8% of gross receipts. In that case he will have to get his accounts audited.
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