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Section 44ad

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Guest

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Guest (Querist)
23 December 2013 Sir in 2012 i incorporated as a proprietor a business of man power recruitment. Basically i am supplying the labour to a compnay and in return monthly i collect service charges (Net of TDS)from the company for the services given to them.My receipts are below 100 lakh.I just want to know am i eligible person under section 44AD and can i pay the tax on 8% deemed income??
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 December 2013 answered elsewhere. Please note that it is 1 cr and not 100 cr.
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