Section 44AD of the IT Act

Mr.Rohit Kochar

Explanation to Section 44AD ( as substituted by the Finance( No.2) Act, 2009 which comes into force with effect from 1-4-2011 reads as under:

Explanaltion.-For the purpose of this section,-

(a) "eligible assessee" means,-

(i) an individual, Hindu undivided family or partnershjip firm, who is a resident, but not a limited liability partnership partnership firm as defined under clause (n) of sub-section (1) of section 2 of  of the Limited Liability Partnership Act, 2008 (6 of 2009); and

(ii) who has not claimed deduction lunder any of sections 10A, 10AA, 10B, 10BA or deduction under any provisions of Chapter VIA under the heading "C. - Deductions in respect of certain incomes" in the relevant assessment year;

Now you can come to a conclusion whether this section is applicable companies?

Best Wishes

Sathikonda

Mr. Sathikonda

thank u for your reply.

i would like to mention that i am aware of the section quoted by you

my only doubt was regarding the particular sum mentioned by me above