Please Help: Section 44AD
Posted Date : 29-Dec-2018 , 12:04:25 pm | Posted By: Deepak
Category :
Income Tax | Answers :
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Comments :
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An assessee showing PGBP income u/s 44ad in AY 2018-19. Now he's having salary income in AY 2019-20.
Does the question of tax audit arise to the assessee? |
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Answers:
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 Answer by: AKANKSHA |
| Salary Income is not covered under section 44AD for Tax audit.
Only income from Business or Profession are covered under the said section.
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| Comments |
| Posted By : Akash Dhanuka |
11-Apr-2020, 07:52:39 |
| No, since 44AD is covered in the chapter of business/profession. I guess the base of the query is whether 44AD(4) shall apply or not.. the answer is no .. since ,44AD(4) said that Ig the Assessee op |
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| Posted By : Gurdeep Ahuja |
02-Jan-2019, 07:19:57 |
| 44Ad is covered for Business Income on Retail Trade @ 8% of turnover. Salary is covered under another head. |
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