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Section 44AD

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33 Points Posted on 02 September 2018
Assessee is having 2 businesses. The turnover of the 1st business is Rs 50 lacs and turnover of 2nd business is Rs 40 lacs. He wants to show 1st business income under 44ad and 2nd under normal business income. Can he do so?? If yes, which ITR will be applicable. ITR 4S or ITR 3??
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On 02 September 2018 at 20:49 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 03 September 2018
ITR 3 is suitable for above said way.
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On 03 September 2018 at 07:26
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student
654 Points Posted on 03 September 2018
in sec44ad aggregate of all business turnover should be considered.alteast 8 percent has to be shown.in case digital transcations 6 percent has to be shown.if you opted 44ad itr4 is applicable if not opted itr3 is applicable
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On 03 September 2018 at 11:24
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33 Points Posted on 03 September 2018
krishna my query is not what u answer...My query is whether he can show one business under 44ad n other under normal.
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On 03 September 2018 at 11:36
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"Do the Right Thing...!!!"
128152 Points Posted on 03 September 2018
Yes... He can show one business under presumptive taxation scheme (if eligible bussiness) and another one is normal provisions. But, It's not available in ITR 4...
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On 03 September 2018 at 18:10


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