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Comparative study of Section 44AD, ADA and 44AE

 

PARTICULARS

 

44 AD

 

44 ADA

 

44 AE

Eligible Assessee

 

Individual/HUF/Firm

(Other than LLP)

Resident assessee being an individual or a partnership firm other than a limited liability partnership

Any person

Eligible Business

 

Any Business except 44 AE

 Profession referred in 44AA

Plying, hiring or leasing good carriages

Applicability

Turnover or gross receipts should not exceed 2 Crores.

Person should not be  engaged in agency business or in commission or brokerage or Profession referred in 44 AA

Gross receipts should not exceed 50 Lacs.

No. of vehicles own should not exceed 10 at any time during the previous year

Presumptive Income

8% or  6%

50%

7500/Month or part of the month 1000 Per Ton.

Interest  and Remuneration

Not allowed

Not allowed

Allowed

Applicability of 44 AB

If 44AD(4)get attracted and Total Income Basic Exemption

Income offered is less than 50% and total income exceeds Basic Exemption limit

Income offered is less than the presumptive Income

Higher Income

 Claimed to have been earned

Claimed to have been earned

Actually Claimed to have been earned

Advance tax

Applicable

Applicable

Silent  Applicable

Number of installments

100% in the last installment

100% in the last installment

Silent all 4 installments

Applicability to Non-Resident

Not applicable

Not applicable

Applicable

 
 
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Category Income Tax, Other Articles by - CA.R.S.KALRA 



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