Section 44AD Scheme now 6% for non cash payment

For FY 2015-16 (AY 2016 - 17)

• If Turnover of Business upto 1 Crore,then 8 % of Turnover is Profit
• No need to make books of accounts
• No need to do Audit

Sectio 44AD Scheme

• For FY 2016-17 (AY 2017-18)
• If Turnover of Business upto 2 Crore,then
• 8 % of Turnover is Profit for Cash Transactions
• 6% of Turnover is Profit for Other Transactions
• No need to make books of accounts
• No need to do Audit

While Others Changes are applicable from FY 2017-18 (AY 2018-19), this budget change is applicable from FY 2016-17 (AY 2017-18) onwards