Can a person with indraday(speculative business) opt 44AD and pay tax @ 8% on his speculative turnover ?
Because it is nowhere mentioned in 44AD that he can't..
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Opting for 44AD
Replies (3)
Quick Summary
Yes,he can.
Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E : raj @ rcdco.in
Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E : raj @ rcdco.in
| Originally posted by : SANYAM JAIN | ||
 |
Can a person with indraday(speculative business) opt 44AD and pay tax @ 8% on his speculative turnover ?Because it is nowhere mentioned in 44AD that he can't.. |  |
Yes You Can opt 44AD
Actually, problem is that in the instructions for filing ITR-4S they have mentioned that person with speculative business cannot opt for 44ad, but in law there is no such mention.
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