If an assessee has two business and gross turnover over from both of the business sum up to 2 Cr.
is it possible he can opt 44AD for 1 business and audit for other business.
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Sec. 44AD
Replies (2)
NO, he cannot opt both the option at the same time. either he can opt for presumptive taxation basis, if total turnover or gross receipt of both the business is up-to rs 2 cr. .otherwise he can opt for normal taxation basis
if a person avail presumptive taxation scheme and then he avail normal taxation scheme , THEN he is not liable for presumptive taxation scheme for upto 5 consecutive years
#for further information please reply
if a person avail presumptive taxation scheme and then he avail normal taxation scheme , THEN he is not liable for presumptive taxation scheme for upto 5 consecutive years
#for further information please reply
in my opinion, yes he can opt
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