INCOME TAX QUERY
can i show less profit % (i.e 5%) under 44ad and my total income will be less than 2.5 lakhs then can i opt for 44ad nxt year also?
1 Replies
Girish Jain
(150 Points)
Replied 15 January 2019
Section 44AD will not apply, if you want to show imcome less than 8% or 6% in case of digital transactions. In the above case, section 44AB will apply only if total income is more than 2.5 lakhs.
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