Section 44ad and contractor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 August 2012
Dear Experts
One of client has been deducted TDS @ of 1% U/s 194C for A/y 2012-13 having gross reeipts of 1242534/- and TDS is 12426/-.
Can we file ITR taking benefit of Section 44AD i.e 8% of TO.
Pl guide and clarify asap. thanks.
One of client has been deducted TDS @ of 1% U/s 194C for A/y 2012-13 having gross reeipts of 1242534/- and TDS is 12426/-.
Can we file ITR taking benefit of Section 44AD i.e 8% of TO.
Pl guide and clarify asap. thanks.
28 August 2012
The assessee is an eligible assessee u/s 44AD and can avail the benefit of the same.
Guest
Guest
(Expert)
28 August 2012
Yes contractors can take benefit of second 44AD by declaring income at 8% of gross receipts.
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