Regarding 44ad & 44ada

Vish (Business) (60 Points)

11 July 2017  

I have certain queries regarding 44AD & 44ADA mentioned below.

Person carries three businesses. First is professional firm on partnership basis, second is export business on proprietor basis and third retail store on partnership basis. I have certain questional related to it.

1) Can this person opt for both 44AD & 44ADA ? How turnover and gross receipts are calculated in this case ?

2) This person carries business on partnership businesses. Now if he opt 44AD or 44ADA. Is it necessary for his partner also have to opt 44AD or 44ADA ?

3) This person wants to opt for 44AD or 44ADA for two businesses but for one business he wants to calculate according to normal tax system. Is it allowed ?

Awaiting for your insight

Regards