U/s 44 AD Incomet tax turnover


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This discussion clarifies the applicability of Section 44AD for businesses with a turnover of ₹65 lakh, where all receipts are banked. It confirms that a 6% profit can be shown under this section. For partnership firms, a key condition regarding cash payments is highlighted: individual payments should not exceed £10,000 per day or per bill.

16 December 2021 If my turnover is 65 lakh all receipts in the bank can I show 6% profit

16 December 2021 yes, under sec. 44AD, it is applicable.

16 December 2021 Is there any cash payment condiction applicable, (We are partnership firm)

16 December 2021 FOR PAYMENTS, CHECK IF IT DOES NOT EXCEED RS. 10000/- PER DAY/BILL.


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