Comment on Business Line: Read Section 44AD when filing return

baljinder commented on 25 Feb 2017, 01:36 PM

Hi Sir,

I am trading with Zerodha along with other small business. Now My Query is that If other business turnover is 1Cr and trading turnover is 50lac, Can the section 44Ad applied? will it be applied on total turnover or separately.
For eg:
FY 2016-2017
1.5 Cr X 8% or 1cr X 10% + 50L X 8%
will the accounts need to be audited in this case.

Please help
Thanks in advance

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