An assessee whose business turnover is 2.8 Crores and he is filing under section-44AB.He has speculative business transaction of 2Lakhs. Will Section-44AD is applicable for this Speculative business or it won't be applicable????
Nithish Kumar (Articles) (30 Points)
17 November 2021An assessee whose business turnover is 2.8 Crores and he is filing under section-44AB.He has speculative business transaction of 2Lakhs. Will Section-44AD is applicable for this Speculative business or it won't be applicable????
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 17 November 2021
As I understand, since the aggregate turnover is more than ₹2cr, 44AD cannot be opted for.
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