turnover -50,00,000
net profit -5,00,000
can opt for 44AD
Menu
44AD eligiblity
Replies (4)
What type of Busniess you have ?.
he is running a medical store. retail
1) 44 Ad is appicable to Individual & partnership firm not LLP
2) Your total turnover or gross receipt in the previous year dose not exceed an amount of RS- 2 crore .
If you fufil above conditions then you can opt 44 AD as per the income tax act 1961 and you have opt this schme for 5 years .
Yes, you can definitely file return under section 44AD as long as profit margin is 8% or more and turover is upto ₹ 2 crores. To know more about section 44AD, 44ADA and 44AE, you can read this post. - Guide to Presumptive taxation (section 44AD, 44ADA and 44AE.
Recent Topics :
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
- Would you use a free, open-source alternative to s
- Business & Finance
- Report in GSTR 1 ( Credit Note ) for Wrong GST Rat
- Reply of summons issued under section 70 of the cg
- How to Bulk GSTIN Number Verify and Validation
- OPC Annual Filing Defaults – Need Guidance t
- OPC Annual Filing Defaults – Need Guidance t
Related Topics :
CAclubindia
