Business income u/s 44AD

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67 Points Posted on 23 March 2020
whether business of purchase and sale of plots/immovable property can be claimed u/s 44AD
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On 23 March 2020 at 00:36 Report
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This discussion clarifies whether the business of purchasing and selling plots or immovable property qualifies for presumptive taxation under Section 44AD of the Income Tax Act. The consensus is that it can, provided the financial year turnover does not exceed £2 crore. It's also noted that companies and LLPs cannot avail of this scheme.

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12244 Points Posted on 23 March 2020
Yes it can be
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On 23 March 2020 at 01:19
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"Do the Right Thing...!!!"
128162 Points Posted on 23 March 2020
Yes... The said Business can be u/s 44AD...
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On 23 March 2020 at 07:11
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67 Points Posted on 23 March 2020
Whether registration in GST is required for that?
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On 23 March 2020 at 10:15
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But your turnover should limit up to 2 Cr. in a F.Y
also if you are running a company or LLP then also benefit of 44AD not available.
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On 23 March 2020 at 10:43

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