presumtive tax 44AD

percy (B.Com) (370 Points)

03 July 2018

I run a photo copy shop..can I go for 44AD....I do hv other income

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prasad Nilugal ( GST Practitioner & Accounts ) (14846 Points)
Replied 03 July 2018

What type of other income ?.

percy (B.Com) (370 Points)
Replied 03 July 2018

mainly income from bank I nterest.. dividend

Anjali P Nair (ACA,ACMA) (582 Points)
Replied 04 July 2018

Yes U can opt for 44 AD Scheme.U may declare 8% or more of your gross receipts as income.

Section 44 AD shall not apply to an assessee:

1. Carrying on any specified profession referred to in Sec.44 AA(Accountant,Medical Practitioner,Architect,CS etc)

2. Earing income in the nature of commission or brokerage

3.Carrying on any agency business

4.Who has engaged in the business of plying,hiring or leasing of goods carriage as referred u/s 44 AE.

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