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44ADor 44AE which section apply
ohk thanx sir
sir suppose i have 8 truck
my actual turn over was 3crore
audit was liable or not (if i opt sec 44ae) ??
audit was liable or not (if i does not opt 44ae) ???
my actual turn over was 3crore
audit was liable or not (if i opt sec 44ae) ??
audit was liable or not (if i does not opt 44ae) ???
audit not liable if you opt 44AE
audit liable if you not opt 44AE
audit liable if you not opt 44AE
AS PER SEC 44AE, IF YOU OWNS NOT MORE THAN 10 GOODS CARRIAGE THEN YOU CAN OPT FOR PRESUMPTIVE TAXATION UNDER SEC 44AE.
IN YOUR CASE YOU HAVE OWNS 12 TRUCKS, YOU CANT OPT FOR THAT
NORMAL PROVISIONS OF IT ACT WILL APPLY.
Sir,
A person owned business1 -turnover 80 lakhs,
having 3 cars for rentall income - 120000//-
Also having Agriculture income- 1 lakh.
If his Net profit 8% for total (includes above 3 iincomes) is ccrrect or 80 lakhs only?
44AD APPLY ONLY TO BUSINESS INCOME
so 8% on 80 lakhs
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