Applicability of Sec 44AD if assessee under his taxable limit?

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  1. ABCDEF

    ABCDEF New Member

    WILL THE SECTION 44AD BE APPLICABLE TO THE ASSESSEE IF THE ASSESSEE IS UNDER HIS TAXABLE LIMIT????
     
  2. Sriti Jha

    Sriti Jha New Member

    Yes, it would be applicable.
     
    ABCDEF likes this.
  3. ABCDEF

    ABCDEF New Member

    Thank u for the answer Mrs, Sriti Jha.
    But if the assessee doesn't exceeds his taxable income limit, then too the section 44AD will be applicable??
    Can u clear my concept regarding it?
     
  4. Sriti Jha

    Sriti Jha New Member

    44AD is only for computation of Taxable Income. It simply says that your Income would be assumed to be 8% of your total turnover.

    And on the income so computed, tax would be levied as per the income tax slab rates.
     
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