AVAILABILITY OF NEW TAX REGIME FOR BUSINESS U/S 44AD

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This discussion clarifies whether businesses declaring income under Section 44AD can benefit from the new tax regime introduced by Section 115BAC. The answer is yes, you can opt for the new regime alongside presumptive assessment under Section 44AD. However, it's important to note that the deadline for changing your tax regime was July 30th.

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(Querist)
27 August 2022 Dear All,

Can i avail benefit of new tax regime u/s 115BAC while I am declaring business income u/s 44AD?

Thanks
Nirmal
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
27 August 2022 Yes, new regime can be opted along with presumptive assessment u/s. 44AD.
But the change of regime is not allowed after 30th July.
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NIRMAL DAVE

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NIRMAL DAVE (Querist)
29 August 2022 Thank You for your valuable reply.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
29 August 2022 Most Welcome ..
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