24 May 2012
The plain reading of Section 44AD tells that you can file ITR u/s 44AD if you are an "eligible assessee".
“eligible assessee” means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership.
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading “C. - Deductions in respect of certain incomes” in the relevant assessment year;
Further “eligible business” means,—
(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of 28 [sixty lakh rupees].]
Hence, as per information provided by you, you fall under the category of eligible assessee.
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24 May 2012
The plain reading of Section 44AD tells that you can file ITR u/s 44AD if you are an "eligible assessee".
“eligible assessee” means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership.
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading “C. - Deductions in respect of certain incomes” in the relevant assessment year;
Further “eligible business” means,—
(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of 28 [sixty lakh rupees].]
Hence, as per information provided by you, you fall under the category of eligible assessee.
For more updates: Like my page on FB: https://www.facebook.com/camchopra
24 May 2012
The plain reading of Section 44AD tells that you can file ITR u/s 44AD if you are an "eligible assessee".
“eligible assessee” means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership.
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading “C. - Deductions in respect of certain incomes” in the relevant assessment year;
Further “eligible business” means,—
(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of 28 [sixty lakh rupees].]
Hence, as per information provided by you, you fall under the category of eligible assessee.
For more updates: Like my page on FB: https://www.facebook.com/camchopra
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