U/s 44ad

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24 May 2012 in this section 44ad which income come

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 Section 44AD is applicable to ALL business except the business of plying, hiring or leasing goods carriages referred to in section 44AE AND whose total turnover or gross receipts in the previous year does not exceed Rs. 60 lakhs (Rs. 1 crore from AY 13-14).

Further, Section 44AD has been retrospectively amended w.e.f AY 11-12 to provide that this section shall not apply to professionals, persons earning income in the nature of commission or brokerage or person carrying on any agency business.

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