Section 44ad ........
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 September 2011
WHETHER SECTION 44AD WILL BE APPLICABLE IF PARTNERSHIP FIRM INCURRS LOSS??
13 September 2011
Taxation of specific businesses on presumptive basis
1.Turnover not to exceed Rs 60 Lacs
2.Applicable to all assessee(s) engaged in the business of civil construction supply of labour for civil construction.
3.Income is 8% of the gross receipts irrespective of whether firm earns profit or incurrs loss
1.Turnover not to exceed Rs 60 Lacs
2.Applicable to all assessee(s) engaged in the business of civil construction supply of labour for civil construction.
3.Income is 8% of the gross receipts irrespective of whether firm earns profit or incurrs loss
13 September 2011
44AD will be applicable unless tax audit is carried out......
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