U/s 44ad applicability

This query is : Resolved

DIBYENDU (Querist)
Follow

01 May 2012 My company receive around Rs.80 lac from various party on the financial year 2012-2013, whereas billed amount was around 54 lac, rest of receive amount is treated as an advance receive from party for work execution,Is my company file IT return SUGAM 4S under 44AD rule?

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
Follow

01 May 2012 You can opt for Section 44AD provided that the assessee is Individual / HUF / Partnership Firm. In other cases, 44AD is not applicable.

DIBYENDU

DIBYENDU (Querist)
Follow

01 May 2012 I KNOW THAT . BUT IS IT APPLICABLE WHEN MY GROSS RECEIPT EXCEEDS RS.60 LACS BUT TURNOVER IS BELLOW RS. 60 LACS IN F.Y. 2011-2012

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

24 May 2012 Section 44AD is applicable if the turnover does not exceed Rs. 60 lakhs.

Since your turnover does not exceed Rs. 60 lakhs, you are eligible for benefit u/s 44AD.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Tushar Gupta

office docs

Rajat Khandelwal

Jagdeep Kaur

rajeev koolwal

Subscribe Now

U/s 44ad applicability

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA