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Section 44 ae or section 44 ad

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22 August 2014 can we use any of section ie section 44 ae or 44 ad to calculate income from buisiness or profession

44 ae says min income is 4500 as per f.f 2013-14 in case of l.g.v not more than 10

44 ad says min income is 8% of gross reciept or gross income

so what is the difference between them
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 August 2014 you cannot use 44AD as long as you are covered under 44AE. refer explanation (b)(i) to section 44AD(6)
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