Sec 44AD

Querist : Anonymous (Querist) 03 April 2010 This query is : Resolved
hello sirs..Can zerox works contractor Disclose profit U/s 44AD for Ass Yr 2009-10.

Thanx in advance

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adv. rajeev ( rajoo ) (Expert) 03 April 2010
SEC : 44AD : Conditions for special provisions of this section to apply:
Assessed should be engaged inb the business of civil construction or of supply of labor for civil constructions as per the explanation to the section, civil construction included(a) construction or repair of any building, bridge, dam or other structure or of any canal or road;(b) the execution of any works contract.
Gross receipts paid or payable to the assessee in the previous year on a/c of such business should not exceed Rs.40 lakhs.
The assesses can, however, declare a higher income voluntarily.
if the gross receipts paid or payable by you in the previous year exceeds Rs.40 lakhs you will have declare.

A V Vishal (Expert) 03 April 2010
No you cannot since xerox works is not in form of sale of goods or merchandise. Further, for the AY under review S.44AD applies to Special provision for computing profits and gains of business of civil construction, etc.

soumitra basu (Expert) 04 April 2010
No, Xerox work contractor can be disclosed profit under section 44AD i.e. @8% on business on and from the assessment year 2010-11.

soumitra basu (Expert) 04 April 2010
Here is a correction. This is applicable for the assessment year 2011-2012.

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