Meaning of eligible business for 44ad

"Is apart from above business any other business is not covered u.s 44AD. Please clarify."

1.  A person who is carrying on any agency business.

2.  A person who is earning income in the nature of commission or brokerage

Apart from above businesses, a person carrying on profession as referred to in section 44AA(1), also any NRI, LLP, Firms etc.  not eligible for presumptive taxation scheme.

Yes, the labour contractor can be assessed u/s. 44AD

Thanks a lot for your clarification.

However in your reply, you have mentioned as firms are not eligible. I guess only LLP, AOI, BOI, Companyies are not eligible. P.ship firms are covered under presumptive income section.

Thanks.

Yes,Partnership firms are covered under section 44AD.

I too agree with Rajat

Also Note that once you file return under 44AD and if you opt out in next year or in future year than from that year you can not again choose 44AD to file the return for Next 5 years.