Presumptiv income u/s 44ad

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SELF
79 Points Posted on 31 March 2021
whether u/s 44ad applicable for jewellery business having t/o below 2 crores?
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On 31 March 2021 at 17:36 Report
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Quick Summary
This discussion clarifies the applicability of presumptive income under Section 44AD for jewellery businesses. It confirms that if the turnover is below £2 crore, businesses involved in trading, including jewellery, can opt for this scheme. However, a key condition is that cash transactions should not exceed 5% of the total turnover.

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4 Points Posted on 31 March 2021
Yes they can opt
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On 31 March 2021 at 17:46
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Chartered Accountant
24588 Points Posted on 31 March 2021
Yes if turnover is less than 2 crores rupees then you can opt for presumptive taxation
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On 31 March 2021 at 17:57
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Chartered Accountant
5010 Points Posted on 31 March 2021

yes if they involved in trading then can claim u/s44AD. 

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On 31 March 2021 at 18:14
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17269 Points Posted on 31 March 2021
Yes can opt 44AD
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On 31 March 2021 at 18:33
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ArticleShip
393 Points Posted on 31 March 2021
Yes but cash transaction should be less than 5 percentage
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On 31 March 2021 at 23:29
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Chartered Accountant
24588 Points Posted on 18 April 2021
Yes 44AD is applicable
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On 18 April 2021 at 14:34

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