Presumptiv income u/s 44ad

RAJESH C.JARIWALA (SELF) (79 Points)

31 March 2021

whether u/s 44ad applicable for jewellery business having t/o below 2 crores?
thanks...

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6 Replies

Ayush Bansal (4 Points)
Replied 31 March 2021

Yes they can opt

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 31 March 2021

Yes if turnover is less than 2 crores rupees then you can opt for presumptive taxation

CA Puja Sharma (Chartered Accountant) (4874 Points)
Replied 31 March 2021

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

Kapadia Pravin (17249 Points)
Replied 31 March 2021

Yes can opt 44AD

Prathyusha Varma (ArticleShip) (393 Points)
Replied 31 March 2021

Yes but cash transaction should be less than 5 percentage

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 18 April 2021

Yes 44AD is applicable

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