banner_ad

Section 44ad

This query is : Resolved 
Profile Image

Profile Image

(Querist)
31 December 2011 IN THE SECTION 44AD 8% TAX IS LIABLE , IS IT PAYABLE ON GROSS PROFIT OR NET PROFIT.
Profile Image

vipul Shah

Profile Image

vipul Shah (Expert)
31 December 2011 8% is payable on gorss receipt or total turnover
Profile Image

Tapas Ruparelia

Profile Image

Tapas Ruparelia (Expert)
31 December 2011 Agreed. 8% of Gross Turnover or Gross Receipts.
Profile Image

Prakash Kochar

Profile Image

Prakash Kochar (Expert)
02 January 2012 U/s. 44AD net income from eligible business will be taken @8% of turnover or receipt. Along with other income and considering deduction under chapter VI taxable income will be calculated on which tax is payable at specified rate.

Tax rate is not 8% of turnover but net income u/s. 44AD will be considered at 8%
Profile Image

Tapas Ruparelia

Profile Image

Tapas Ruparelia (Expert)
02 January 2012 Mr. Prakash is absolutely right. I did not read the question properly in hurry.
thanks for correcting!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details