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Presumptive income for society

Sohail (CA) (142 Points)

15 February 2013

whether presumptive profits applicable to Society or not? Is it possible to do E-Filing for society? pls reply.....Thanks in advance..

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Devendra (Chartered Accountant) (4775 Points)
Replied 15 February 2013

In case of Presumptive income (ie. section 44AD of Income Tax Act, 1961), the eligible assessees are Individual, HUF and Partnership. In your case the assessee is a Society, hence the Society shall not be an eligible assessee to claim benefit u/s 44AD of the Income Tax Act, 1961 (Presumptive Income). Regards, Devendra Kulkarni

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Sohail (CA) (142 Points)
Replied 15 February 2013

Thanks for ur reply.....I have 1 more query.Is it possible to do E-filing for society?Thanks in advance.....

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