is finance business covered under 44AD
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YES >>>>
Section 44 AD is applicable to eligible assessee carrying eligible business and who has not claimed the deduction under section 10A 10AA 10B 10BA or under any provision of chapter VIA under the head "C-deduction for certain income"
elegible assesee: can be any individual or HUF or a partnership firm
Elegible business: can be any businees except those reffered under section 44AE and whoes turnover for a year should be less than 100 lacs...
If the gross reciept and paymet in the financial year through bank transaction exceeds 40lacs then section 44AB is applicable
YES >>>>
Section 44 AD is applicable to eligible assessee carrying eligible business and who has not claimed the deduction under section 10A 10AA 10B 10BA or under any provision of chapter VIA under the head "C-deduction for certain income"
elegible assesee: can be any individual or HUF or a partnership firm
Elegible business: can be any businees except those reffered under section 44AE and whoes turnover for a year should be less than 100 lacs...
If the gross reciept and paymet in the financial year through bank transaction exceeds 40lacs then section 44AB is applicable
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