Assessee covered in 44AD


shubhank sharma   04 April 2019

shubhank sharma

 13 points

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if my turnover in PY is below 2 cr,
then whether im automatically covered under section 44AD or its option for me to declare 8% profit..?
i.e if my turnover is say 1.5 cr, and 8% is 12 lacs , and if my actual profit is 5 lacs l, does i have violated provisions of 44AD..?

avater

Vishesh Surana   04 April 2019

Vishesh Surana

 293 likes  4852 points

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but to claim profit less than presumptive, than audit is required. Moreover , it is 6% for electronic receipt


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