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Limit of 44 AD
what is the limit of turnover in the under section 44AD for the F.Y. 2019-20 and 2020-21.
Replies (6)
Quick Summary
Turnover limit under section 44AD for F.y 2019-20 was 2 Crore .
AND LIMIT OF F.Y. 2018-19 44AD
Limit for F.Y 2018-19 also 2 Crore .
Turnover limit under section 44AD for F.Y 2017-18, F.Y 2018-19, F.Y 2019-20 and F.Y 2020-21 for all years is Rs.2 Crore only.
SIR, FOR 5CR LIMIT ??
5 Cr Limit is for Tax audit under section 44AB subject to fulfillment of condition.(like cash sale/purchase less than 5% sale/purchase respectively ect.)
44AD is a presumptive taxation, for that limit is 2 crore only.
44AD is a presumptive taxation, for that limit is 2 crore only.
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