Dear friends,
Prior to 2011 only construction business was covered u/s 44AD, However the same has been amended w.e.f 1.4.12 to include all business except plying, hiring and leasing of trucks (covered under 44AE) and profession (covered under 44ADA).
Is apart from above business any other business is not covered u.s 44AD. Please clarify.
Now, my query is if an assessee is doing mounting job/work which is towards labour work (mounting of advertisement board etc.,) can he declare his income on presumptive basis.
Lakshmi Devanand
CAclubindia
