Presumptive Taxation u/s 44AD

Tax queries 1056 views 2 replies

Whether all types of the work contracts are covered under u/s 44AD of the Income Tax Act for presumptive taxation of incomes arising out of that.

'Or'

Only the contracts which are related to the contract of civil construction are covered by the provision sof that section.

Explanation to that section runs as:

For the purposes of this section, the expression "Civil construction" includes-

(a) the construction or repair of any building, bridge, dam, or other structure or any canal or road;

(b) the execution of any works contract.

Your views & suggestions are highly welcomed.

Thanks.

Replies (2)

According to the new section 44AD, the old sections 44AA, AB and AD are now clubbed with new section 44AD except for AF i.e transporters. 

 

Regards

Sahana Murthy

Asking for provisions as applicable upto A. Y. 2010-11 as relevant for the income tax returns to be filed for the previous year ending 31.03.2010.


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