44ad
Querist : Anonymous
MY FATHER IS FARMER AND HIS ONLY AGRICULTURE INCOME,AND NO BOOKS MAINTAINED FOR THAT,SO HOW CAN I DISCLOSE INCOME OF THERE????
IS SECTION 44AD IS APPLICABLE??
section 44AD applies only to eligible business and agriculture income is not covered in the definition of eligible business.
agriculture income is exempt from tax u/s. 10(1)
so you may file the return of your father by considering 60% of your total bill(Sale) amount.
still your taxable income is NIL as the said income is exempt from tax.
Querist : Anonymous
is there any rule for that???
Querist : Anonymous
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