Search Results For: 44AA(1)


QUERY: For the purpose of section 44AD, is the limit to be decided qua assessee or qua business?
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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,