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Section 44 ad and 44ab

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(Querist)
05 October 2018 Assessee having turnover of Rs. 1.32 crore so he wants to opt section 44AD (As lilmit under section 44AD is 2 crore) . and wants to declare profit @ 5% by carring out audit under section 44AB by maintaining books of account.

he can file return under section 44AD (ITR 3) or normal return has to filed by assessee without showing 44AD.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 October 2018 Normal return has to filed by assessee without showing 44AD.
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RAJA P M

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RAJA P M (Expert)
06 October 2018 If Your Business is Eligible under sec 44AD then You can file ITR 4 under sec 44AD presumptive taxation scheme with profit 8 percentage or above 8 percentage. If You will show profit less than 8 percentage then go to file Normal return with Tax Audit under 44ab...
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