44ad presumption of tax

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total turn over 20055000
cash deposited is showing asi 1050000 it's consider 44ad are not
Replies (1)

✔ Section 44AD is applicable since turnover is within ₹2 crore.
✔ Cash deposit shown in AIS does not automatically disqualify 44AD.
✔ Only business cash receipts matter for the 5% test.
✔ If business cash receipts exceed 5%, 6% rate not allowed, but 8% is allowed.
✔ 44AD is not rejected merely due to cash deposit in AIS.


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