Sec 44 ad

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This query is : Resolved

Manoj Kumar Singhal (Querist)

22 July 2013 One of my client is running a private school.can he filled his return u/s 44 ad as his turnover is nearly 2000000

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)

22 July 2013 Yes, provided the assessee is not availing any benefit u/s 10, 11, etc.

CA Pooja Agarwal

CA Pooja Agarwal (Expert)

22 July 2013 For the purposes of section 44AD,—
(a) “eligible assessee” means,—
(i) an individual, Hindu undivided family or a partnership firm, who is a resident, but not a limited liability partnership firm as defined under clause (n) of sub-section (1) of section 2 of the Limited Liability Partnership Act, 2008 (6 of 2009) 27a ; and
(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;
(b) “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 1 Crore

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