The 44AD regulations eligibility seem to mention that the person must be an individual or HUF etc. But the title says that 44AD is a tax scheme for "businesses". I'm confused. Is it necessary for the person to have a registered business? or is "business" used as a generic term to refer to any business in general?
I run a software business where I sell custom software to people. My annual total income is less than 20L. Can I claim 44AD? or do I need to be a registered business? or do I fall under 44ADA (professional - technical consultant)?
CAclubindia
