U/s 44 AD Incomet tax turnover


This query is : Resolved 

Quick Summary
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.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details