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Section 44ad applicability

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 February 2017 Hi ,

Please make my confusion clear.

There is a company registered in India as a 100% subsidiary to foreign company and the nature of business is providing financial services (electronic filing) to Us clients. and the billing for transfer pricing is cost+profit. The turnover from services is less than 1 crore p.a . Can we pay tax on presumptive method u/s 44AD?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
20 February 2017 No, 44AD not applicable, you have to file balance sheet and profit and loss account.
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