Section 44AD Section 44AD: It covers all the small businesses having turnover less than Rs. 1 crore.
{"Image DocumentName": "Section 44ADSection 44AD: It covers all the small businesses having turnover less than Rs. 1 crore.", "Image ImageDescription": "Only individuals, HUF and firms are covered here . This scheme would not apply to assessee who avails any deduction under Chapter VIA . Presumptive tax rate would 8% of total turnover or gross receipts, All deductions under sections 30 to 38 would have been deemed to be allowed but interest and remuneration u/s 40(b) can be claimed. Presumptive tax rate would be 8% of the gross turnover or receipts , however the assessee has the option to declare more income. No need to pay advance taxes.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}