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Difference between 44AD and 44AB
Sir please clarify difference between 44AD and 44AB.
Replies (3)
44ad is presumptive taxation for eligible assessees for eligible business for turnover up to 2 crores
44ab - those who not opt 44ad and whose turnover exceeds 1 crores, required to audit their books of accounts
44ab - those who not opt 44ad and whose turnover exceeds 1 crores, required to audit their books of accounts
As per section 44Ab if your turnover exceed 1core you have get your accounts audited and as per 44AD income would be presumed to be 8% of the turnover only if turnover less than 2 crore .
Yes... I agreed to above said replies.
Also fully agreed Mr Prasad Nilugal's reply...
As per sec 44AB Tax Audit limit Rs. 1cr...
As per sec 44AD Tax Audit not applicable upto 2cr.
Also fully agreed Mr Prasad Nilugal's reply...
As per sec 44AB Tax Audit limit Rs. 1cr...
As per sec 44AD Tax Audit not applicable upto 2cr.
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