An Indivitual having 2 Business
Hotel business which is having Loss & Another Manufactoring Business having turnover of 15 Cr and profitable.
An Individual having 2 Business can opt 44AD Hotel Business and Tax audit for the manufactoring Business?
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An individual having 2 business can opt 44ad for one business and tax audit for another
Replies (4)
"An Individual having 2 Business can opt 44AD Hotel Business and Tax audit for the manufactoring Business?"
No.....
Nope... Return filings for assessee and not for business
Make combined profit and loss and if profit is less than sec 44AD , then undergo audit for the entire business ( Both the business ) .Else pay higher tax without doing audit.
Hi
Professional income 18 lac net profit 16 lac and loss from future option 15 lac pls advise applicability of section 44AD and 44ADA.how to file return and whether tax audit will be for both together or only future and options part.
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