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Whether U/s. 44AD The Limit Is Qua Assessee Or Qua Business?

QUERY: For the purpose of section 44AD, is the limit to be decided qua assessee or qua business?
ANSWER: Click here to read the full answer of the expert
SECTION(S): , , , , , ,

Qua both. The scheme is applicable to “an eligible assessee engaged in eligible business” The salient features of the new presumptive taxation scheme are as under:

a) The scheme is applicable to individuals, HUFs and partnership firms excluding limited liability partnership firms. It is also not be applicable to an assessee who is availing deduction under sections 10A,

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