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Tax audit u/s 44ab

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09 July 2015 There are three business of an assessee B-1 Turnover from manufacturing - 40lacs B-2 Turnover from manufacturing - 30lacs B-3 Turnover from retail trading - 40lacs.....u/s 44AD the assessee has offered 8% of turnover as income for B-3 will 44AB be applicable in this case as the turnover excluding 44AD business does not exceed 100 lacs?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 July 2015 In this case 44AD will not be applicable. 44AB will apply.
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Ankur Singhal

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Ankur Singhal (Expert)
09 July 2015 Dear if assessee is an individual the the total sales from all the businesses will be clubbed to check the limit of Rs.100 lacs.

If aggregate sales exceeds Rs.100 lacs then 44ab will apply.
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