banner_ad

Threshold limit for sole proprietory concerns

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 January 2019 Hello Experts,

Kindly help me by giving information on threshold limit of sole propriety subject to tax audit
And also help me in understanding how & when can we file IT on presumptive income basis

Thanks
Profile Image

KAVIRAJA ADDANGADI

Profile Image

KAVIRAJA ADDANGADI (Expert)
08 January 2019 Presumptive income not applicable
Section 44AD Conditions
The scheme of section 44AD is designedto give relief to small taxpayers engaged in any business,except the following businesses:
Business of plying, hiring or leasing of goods carriages referred to in section 44AE.
A person who is carrying on any agency business.
A person who is earning income in the nature of commission or brokerage
Apart from above discussed businesses, a person carrying on profession as referred to in section 44AA(1)is not eligible for presumptive taxation scheme. The firm or individual’s gross receipt or annual turnover in the previous year should not have exceeded Rs.2 crores.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details