One of our clients is currently running a website and earning through advertisements...
Can he apply Section 44AD and show his Income @ 8% of total turnover ??
Moreover, in case he opts for application of this section, can the AO say that your income is not 8% but is 20% ???
Yes, the assessee can opt for Sec 44AD, but i think, w.e.f 1.04.2013, Alternate Minimum Tax under Sec 115JC will be applicable to every assessee other than company. So, he should opt for 44AD keeping in mind the provisions of Sec 115JC.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
