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 :
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
- NPO registered under sec 8 itr filing
- Form 144 (Earlier 27Q) – Reason Code (A/C/G/
- Nps taxation
- Representative assessee
Related Topics :
CAclubindia
