watch_later 20/12/21

One person has 2 business.

1 Business has turnover of 50 lakhs and profit of 10 lakhs.

2nd business has turnover of 30 lakhs and loss of 1 lakhs.

Can this person file return under 44AD as profit combined for both business is more than 8%?

1 Response | Latest response: 18/01/22 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 18/01/22

Yes Dear,

you can file.

Combine turnover of your business is below audit limit (that is 1CR u/s 44AB) and your profit is more than 8% so you can file the return u/s 44AD.


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