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Applicabality of section 44 ad

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(Querist)
28 February 2012 Hello Sir/Madam,

Does benefit of section 44ad is applicable to every business which is not covered under tax audit?


Please reply answer of my query as soon as possible.


Thank You Sir/madam.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 February 2012 Section 44AD is applicable to every business except the business of plying, hiring or leasing goods carriages referred to in section 44AE.

Further, the assessee should be an individual, HUF or a firm but not an LLP.

Turnover or gross receipts should not exceed Rs. 60 lakhs.
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