Apologies for asking this again.
I have been searcing for a single answer, but unable to find as there are mixed reactions in previous posts.
So, here goes the question rephreased.
I hold a sole propritorship with Trade Lincese and doing software development services. I have a current account and accept all receipts in that account.
a) Can this be considered as "eligible business" under section 44AD?
b) If not, under what circumstances can the "software development" be considered as "eligible business" under section 44AD or is it never possible as per the rule?
CAclubindia
