Manager - Finance and Accounts
59303 Points
Joined June 2010
✔ 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.