Please Help: Applicability -Sec.44AD
Posted Date : 09-Aug-2011 , 05:59:12 pm | Posted By: Ashish Kotecha
Category :
Income Tax | Answers :
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Comments :
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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? |
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Answers:
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 Answer by: CA. MANISH MALHOTRA |
| Yes provision of sec 44AD applicable for A/Y 2011-12 also tax audit is applicable in case profit want to show below 8%
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| 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.
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| 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)
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| Comments |
| 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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