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Section 44ad

This query is : Resolved 

The client has started PG business. In this case Section 44Ad will be applied or not ?


Yes 44AD applicable...............

Also, he will hire property on rent, and sublease it for commercial purpose. In this case, the section 44ad will be applied or not ?

In that case 44AD not available.

The following businesses are not eligible for presumptive taxation scheme: -
​​​​
Business of plying, hiring or leasing goods carriages referred to in sections 44AE.
A person who is carrying on any agency business.
A person who is earning income in the nature of commission or brokerage
Any business whose total turnover or gross receipts exceeds two crore rupees.​

Please explain why the 44ad not applicabe on that case ?

44AD not applicable on rental income.

But sir in that case the income is generated by rental business. And in the section 44ad clearly mentioned that any individual or partnership firm can be opted thus scheme.
Please do the needful.

If you consider it as business then 44AD applicable.

thank you so much sir ji


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