What abt section 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2011
Respected sir,
any body clear the matter in case of person haveing two or more business says, retail and whole sale trading as well as transportation work also. in all case having t/o 15 lacs approx. in total its arround 45 lacs but the actual proit comes in less than 1-2 persent in two bus i.e. whole sale and transportation. whether the all t/o will be consider for the purpos of the 8% u/s 44AD or any other way to file the return without audit??????? or audit is compulsory.?????
any body clear the matter in case of person haveing two or more business says, retail and whole sale trading as well as transportation work also. in all case having t/o 15 lacs approx. in total its arround 45 lacs but the actual proit comes in less than 1-2 persent in two bus i.e. whole sale and transportation. whether the all t/o will be consider for the purpos of the 8% u/s 44AD or any other way to file the return without audit??????? or audit is compulsory.?????
07 August 2011
If your total transaction from all businesses taken together exceeds 60L and you are showing profit of 8% on your gross turnover then it is not required to get the books audited
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