Sec 44ad and business income

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taxpracticing
269 Points Posted on 24 October 2020
Hello everyone..... can we claim. sec 44ad income for one business.... and normal provision income from pgbp head for another business of same year....
And
onc individual has business income (other than firm )and also income from firm as intrest and remuneration income....so what income we will claim under section 44 ad ....( his business income + intest and remuneration) or only ( business income )
please answer
thank you
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On 24 October 2020 at 13:43 Report
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Quick Summary
This discussion clarifies the applicability of Section 44AD for businesses. It addresses whether presumptive income can be claimed for one business while using normal provisions for another within the same financial year. The conversation also delves into how to treat business income alongside interest and remuneration from a firm when determining eligibility for Section 44AD.

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"Do the Right Thing...!!!"
128157 Points Posted on 24 October 2020
Remuneration is not a business income. no need to calculate the remuneration under PGPB...
If Another business is eligible u/s 44ad then Yes he can go with u/s 44AD.
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On 24 October 2020 at 15:25
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taxpracticing
269 Points Posted on 24 October 2020
Thank you sir
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On 24 October 2020 at 20:13

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