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Sec 44ad

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(Querist)
21 March 2012 I want to know is this section applies to wholesale trading business (non audit firm)also. Previously 44AF appies to Retail bussiness only
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
21 March 2012 Section 44AF has been repealed and now only Section 44AD and Section 44AE are now applicable.

Section 44AD applies to any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE.

However, the assessee should ne an individual or HUF or a firm BUT not an LLP.
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CA. RAVIKUMAR

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CA. RAVIKUMAR (Expert)
22 March 2012 Agree with Siddhartha Bhardwaj sir,
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