44AD OR 44ADA

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..... 44AD OR 44ADA
Query (Issue) Started By: - Pathy Senthil Dated:- 10-7-2020 Last Reply Date:- 31-7-2020 Income Tax
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Income Tax
WHETHER A PARTNERSHIP FIRM ( 1PARTNER IS NOT A DOCT .....

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..... OR) RUNNING A HOSPITAL WILL BE ELIGIBLE FOR 44AD? Reply By Surjeet Singh: The Reply: As pr section 44AD on IT Act for computation of income under this section there are three important conditions: .....

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..... 1 Eligible assessee: Individual, HUF and Partnership Firm other than LLP being resident. 2. Eligible business: other than following i) the business of plying, hiring or leasing goods carriages refe .....

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..... rred to in section 44AE; or ii) a person earning income in the nature of commission or brokerage; or iii) a person carrying on any agency business; and iv) a person carrying on profession as ref .....

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..... erred to in sub-section (1) of section 44AA 3. Turnover should not exceed 2 crore rupees. So, in your case you can compute income of your business under sec 44AD if Turnover does not exceed 2 crores .....

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..... rupees. For any further tax related queries contact me on 9905126744.
Discussion Forum - Knowledge Sharing .....

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