S 44ad
This query is : Resolved
Sushant Mahajan
(Querist)
24 September 2012
Does section 44AD apply on a person receiving interest income from the business of finance?
Amol S Joglekar
(Expert)
24 September 2012
The wording of 44AD is such that sky is also not a limit to get 44AD applied. But that is definitely NOT the intent of the income tax act. So you can take the call and abide by 44AD .. no problem
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