Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Investment Income under Predumptive

21 July 2022

An Individual has invested 10 lacs in a firm is suppose to receive fixed payments for this particular investment.Can they declare income under presumptive basis us 44AD?

Reply
Follow
Share

5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166880 Points)
Replied 21 July 2022

No. sec. 44AD of the act, is for eligible business income.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

krishna patil (110 Points)
Replied 21 July 2022

What if we specify the nature of business as investment business?Is that allowed?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166880 Points)
Replied 21 July 2022

There is either Business or Investment; nothing like Business investment........

It is not business at all......... one can still consider it as Investment with SWP.

krishna patil (110 Points)
Replied 21 July 2022

Got it sir.Thank you very much sir for the advice.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166880 Points)
Replied 22 July 2022

You are welcome..

Upgrade to CAclubindia Pro. Subscribe Now!

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

Trending Online Classes

3 Days Certification Course on Tax Audit Under Income Tax Act 1961

CA Pratibha Goyal

Enroll Now

05 August 2024
Live class on PF & ESI Enrollment & Returns Filing(with recording)

Mr.Balamurugan Ranganathan

Enroll Now

26 July 2024
Live Course on Practical GST Filing with Expert Legal Insights

Sachin Jain

Enroll Now

26 July 2023

view all classess

Let's Talk Money: You've Worked Hard for It, Now Make It Work for You

Click here for more bestsellers

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads