05 December 2011
Can Prfessional Incomes like Coaching Classes Income, Consultation Charges of Lawers & Doctors, Any Interest or commission receipts are comes under the provision of Sec. 44 AD or only trading business is necessary?
06 December 2011
Newly introduced section 44AD covers all eligible business. An eligible business is any business whose turnover or gross receipt does not exceed the limit specified u/s 44AB of the Act. However it does not include Income from Profession or income from Other Sources such as consultancy fee of Lawyers/Doctors or receipt from interest.
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