APPLICABILITY OF SEC. 44AD

Devendra (Chartered Accountant) (4775 Points)

19 June 2011  

MR. X IS HAVING INCOME FROM NATIONAL INSURANCE FOR F.Y 10-11 (AROUND RS. 3.5 LAKHS). CAN I SHOW IT AS PRESUMPTIVE INCOME U/S 44AD AND FILE ITR-4S. THE ISURANCE CO. HAS ALSO DEDUCTED TDS U/S 194D @ 10% (IE. RS. 35000).

PLEASE GUIDE.

THANK YOU


REGARDS,

DEVENDRA K