Dear all,
I have to submit income tax return of F Y 10-11 of my client .
Occupation is Beauty parlor & Insurance adviser.
Gross Commission from Insurance Business Rs 638109/-
Gross Receipt from Beauty parlor Business Rs 102450/-
I have question, that new presumptive income scheme u/s 44AD new can be used in this matter.
Means is her Occupation eligible for benefit u/s 44AD.
Please help in this matter.
Applicabilty of Sec 44AD is to all businesses except the busines of plying ,hiring or leasing of the goods carriages.
Now ,
Apply sec 44AD as follwos:
8%(638109 + 102450)
or
net taxable income
whichever is higher!!!
Please reply
Dear Sir
I think its applicable u/s 44ad.
I agree with mr. Siddharth kothari, it is applicable to all the business or profession
You may take benefit sectiion 44AD
S.B.G. & CO. CHARTERED ACCOUNTANTS
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