SECTION 44AD
This query is : Open
10 June 2011
IS SERVICE SECTOR LIKE
1. BEAUTY PARLOURS,
2. HOTELS,
3. CONSULTANCY SERVICES
4. BROKERS,
ETC,
ARE COVERED UNDER SECTION 44AD FROM A.Y.2011-12?
1. BEAUTY PARLOURS,
2. HOTELS,
3. CONSULTANCY SERVICES
4. BROKERS,
ETC,
ARE COVERED UNDER SECTION 44AD FROM A.Y.2011-12?
11 June 2011
"eligible business" as per section 44AD 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 **sixty lakh rupees.
and therefore, the business mention by you are covered provided they are carried by the eligible assessee and
"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) ; and
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VI-A under the heading "C.-Deductions in respect of certain incomes" in the relevant assessment year ;
Hope you query is resolved. Free Consultancy sureshjain.nj@gmail.com
"eligible business" as per section 44AD 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 **sixty lakh rupees.
and therefore, the business mention by you are covered provided they are carried by the eligible assessee and
"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) ; and
(ii) who has not claimed deduction under any of the sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VI-A under the heading "C.-Deductions in respect of certain incomes" in the relevant assessment year ;
Hope you query is resolved. Free Consultancy sureshjain.nj@gmail.com
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21 June 2011
THANK U SIR
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