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Q. > Please Help: Section 44AD
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?
1 Answers
answered Jan 02, 2019 by AKANKSHA , North West Delhi
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
gurdeep ahuja
02-Jan-2019 , 07:19:57 pm44Ad is covered for Business Income on Retail Trade @ 8% of turnover. Salary is covered under another head.
Akash Dhanuka
11-Apr-2020 , 07:52:39 amNo, 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