44ad urgent [software dev agency 0711]

Section 44AD is applicable to "eligible assessee" carring the "elegible business" and whose turnover is less than 100 lacs

here you are disqualified because:

                                               1). PVT ltd company will not come under the elegible business

                                                2). Your Turnover is not less than 100 lacs

So you can not file return under ITR4S (Presumptive Income)  i.e.., Section 44AD

Originally posted by : DHRUVA K S
	Section 44AD is applicable to "eligible assessee" carring the "elegible business" and whose turnover is less than 100 lacs here you are disqualified because:                                                1). PVT ltd company will not come under the elegible business                                                 2). Your Turnover is not less than 100 lacs So you can not file return under ITR4S (Presumptive Income)  i.e.., Section 44AD

There is no Pvt Ltd company as I am directly dealign with US based client and client is paying directly into my savings accounts. I have hired 7 employees and paying them from my savings account. My turnover is also 50Lakhs ( which is less than 100 lakhs) so I should be able to file ITR-4s under 44AD.

My main doubt was if my business is OK and it does not come under profession (in that case 44AD is not applicable ). Plz confirm,
 

Now also you are disqualified because your work is a engineering porffesion so

44AD - It covers manufactures, job workers, processing industry and wholesalers. But do not applicable on Professions like legal, medical, engineering, or architectural or accountancy profession or technical consultancy or interior decoration or any other profession notified by the board.

 Therefore you can not file your return under section 44AD that is ITR4S (presumptive income)