Presumptive income calculation section 44ad

C Reddy (Entreprenuer) (133 Points)

14 February 2017  

Dear Members,

There was a notification in December 2016 after the demonetisation that Presumptive income under Section 44AD would be calculated at 6% of the total turnover on digital transactions. Is this applicable for all transactions done in Financial Year 2016-17 i.e.1st April 2016 to 31st March 2017?

Please advice.

Regards

Chandana