Section 44ad
This query is : Resolved
saurabh jain
(Querist)
20 September 2014
IF TWO OR MORE FIRMS HAVE SAME PARTNERS AND IF COMBINED TURNOVER OF FIRMS IF ABOVE 1.00 CR CAN 44AD BR APPLIED TO BOTH THE FIRMS SEPERATELY .
FOR EG:
FIRM A -TURNOVER 65 LACS
FIRM B-TURNOVER 45 LACS
TOTAL TURNOVER 110 LACS
I.E. AS PER PROVISION OF 44AD GROSS TO FOR ALL BUSINESS OF ASSEE IS ABOVE 1.00 CR .
FOR EG:
FIRM A -TURNOVER 65 LACS
FIRM B-TURNOVER 45 LACS
TOTAL TURNOVER 110 LACS
I.E. AS PER PROVISION OF 44AD GROSS TO FOR ALL BUSINESS OF ASSEE IS ABOVE 1.00 CR .
Nikhil Kaushik
(Expert)
20 September 2014
each firm will be taxed separately. no clubbing is to be done...
Rupesh Jain
(Expert)
20 September 2014
every firm have separate PAN then turnover take separately.
saurabh jain
(Querist)
20 September 2014
Thanks for the promt reply
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