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Applicability of presumptive income

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(Querist)
27 April 2011 Sir,

I want to know about applicability of Presumptive income relating to following business.Also want to know appropriate section under I.T. which attract tax liability in the following cases.

I am having doubt regarding application of Sec 44AF/44AD

Kindly note following details

1)Business: Mobile Repairing Shop
Turnover: 20lakhs
F.Y.2010-11
2)Business: Cloth Merchant/ready made shop
Turnover: 30lakhs
F.Y.2010-11


Thanks and Regards

Shree
sbsca.pune@gmail.com
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
27 April 2011 Both the business will attract provisions of amended section 44AD. Section 44AF is discontinued with effect from AY 11-12.

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