Section 44ad urgent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 September 2012 Dear Expert,
One of my client is engaged in the trading of Welding gases and Welding equipments. His total sale is around 8 lacs in FY 2011-12. Besides this he also has job work income of Rs. 1.5 lac from the repairing of welding equipments.

1. Whether he can opt Section 44AD or not.
2. For the purpose of this section what would be his turnover. ( As. 8 lac + 1.5 lac * 8%)
3.whether the itr 4S can be use.

Please clarify.
Thanks in advance.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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07 September 2012 1) Yes, as per the new amendment to section 44AD he comes under section 44AD and he can opt section 44AD.

2) His turnover is Rs.9.5 lacs(8+1.5)

3) yes, He can use ITR-4S.

OM SAI SRI SAI JAI JAI SAI

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