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Section 44ad

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Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2012 If turnover of an individual is e.g 15,00,000/- & according to 8% he is showing his profit equal to Rs 120000/- then is he covered u/s 44ad?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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15 March 2012 All the Business Holders who are not liable for Tax audit under section 44AB are covers under section 44AD. In your case you said turnover related to the business then he will cover under section 44AD.
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CA PARTH SHAH

CA PARTH SHAH (Expert)
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11 January 2014 However if your income does not exceed the basc exemption limit, then 44ad does not apply. In your case if the actual profit is less then Rs 200000, 44AD wont apply.

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