Please tell me whether presumptive tax @ 8% for all businesses except LLP & Companies is applicable from F. Y. 2010-11 or F. Y. 2009-10. Also Send me the link if you have
Amir
(Learner)
(4016 Points)
Replied 16 April 2010
Dear Meenakshi,
Amendment in 44AD takes effect from AY 2011-2012 i:e FY 2010-2011
The following is the extract of Bare Act-
"The following section 44AD shall be substituted for the existing section 44AD by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2011 :........................"
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