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Please Help: Applicability -Sec.44AD

Posted Date : 09-Aug-2011 , 05:59:12 pm | Posted By: Ashish Kotecha

Category : Income Tax | Answers : 3| Comments : 1| Hits: 1570

In case of pvt. ltd. company, whether provision of sec.44AD is applicable for A.Y.11-12? If pvt. ltd company shows profit below 8%, then whether tax audit is applicable?

Yes provision of sec 44AD applicable for A/Y 2011-12 also tax audit is applicable in case profit want to show below 8%
   Answer by: CA. Sachin Data
No dear, the provisions of Section 44AD is not applicable on Private Ltd. Co. and hence the tax audit is required.
   Answer by: CA Rajnish
Dear 44AD is not applicable in case of corporate assessee.It is applicable only to Individual/HUF/Partnership firm(Ex.LLP)
Posted By : Sashi 09-Aug-2011, 11:12:40
NO it is only for "Eligible Assessee" and as per Section 44AD eligible assessee means an individual , HUF, and a firm.

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