Income tax sec.44ad

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bharathvijesh (Querist)
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02 July 2014 My dear expert, Pleas help me,

One of our client doing Advertising Agency business in news paper advertisement only.

my doubt is whether Advertising Agency business is eligible business under sec.44AD.
He can file his income tax return under presumptive taxation route.

thanks

R SUGUMARAN

R SUGUMARAN (Expert)
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03 July 2014 The Section 44AD is applicable for any business except the business of plying ,hiring or leasing of goods carriages referred to in Section 44E.

The business income should not exceed Rs.100,00,000 from the assessment year 2013-14.

This is applicable to resident individuals,HUF and partnership firm( Limited Liability Partnership firm is excluded).
Deduction u/s 10 and Chapter VI-A should not be availed.