4 Replies
CA. Praveen Gupta
(CA )
(346 Points)
Replied 28 January 2011
my view is not but perviouly he is geting benifite of the sec.
vikaskamra
(CA Final Student)
(132 Points)
Replied 28 January 2011
only if the gross receipts doesnt exceeds 60lakhs........otherwise applicable....
Manmohan ACA, CS
(Chartered Accountant )
(14243 Points)
Replied 29 January 2011
I think No he shall not be covered u/s 44AD, as he neither engaged in civil construction or supplying labour, but lets wait for view of other eminent experts.........
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 29 January 2011
Present section 44AD and 44AF has been omitted from the A.Y.11-12.A new section 44AD has been inserted which is applicable to any business whether it is retail trading or civil construction or any other business except the business of plying,hiring or leasing goods carriage referred to in section 44AE.
Conditions:
1.The assessee should be an individual,HUF or partnership firm.
2.The assessee has not claimed any deduction under section 10A,10AA,10B,10BA,80HH to 80RRB in the relevant assessment year.
3.Turnover/gross receipt should not exceed Rs 60 Lakhs
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