whether presumptive profits applicable to Society or not? Is it possible to do E-Filing for society? pls reply.....Thanks in advance..
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Presumptive income for society
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In case of Presumptive income (ie. section 44AD of Income Tax Act, 1961), the eligible assessees are Individual, HUF and Partnership.
In your case the assessee is a Society, hence the Society shall not be an eligible assessee to claim benefit u/s 44AD of the Income Tax Act, 1961 (Presumptive Income).
Regards,
Devendra Kulkarni
Thanks for ur reply.....I have 1 more query.Is it possible to do E-filing for society?Thanks in advance.....
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