CCI Online Learning
50% OFF in CA/CS/CMA Subjects

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

44AD estimate income

P AGRAWAL (partner)     27 September 2020

 2 likes  106 points

| My Other Post

Does limit of 5 crore turnover where
receipt / expenses less than 5% of total turnover apply for this assessment year ie 20-21 relevant to previous year 19-20


Sagar Patel (Tax and Business Consultant)     27 September 2020

Sagar Patel
Tax and Business Consultant 
 983 likes  11081 points

View Profile | My Other Post

Yes, it's applicable for F.Y 2019-20 (i.e A.Y 2020-21)
But this limit is relating to audit under section 44AB, it's not relating to 44AD presumptive Taxation.
For 44AD, limit is only Rs. 2 Crore as earlier.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Popular Discussion

view more »

Trending Tags
GST Live Class    |    x