WHETHER A PARTNERSHIP FIRM ( 1PARTNER IS NOT A DOCTOR) RUNNING A HOSPITAL WILL BE ELIGIBLE FOR 44AD?
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WHETHER A PARTNERSHIP FIRM ( 1PARTNER IS NOT A DOCTOR) RUNNING A HOSPITAL WILL BE ELIGIBLE FOR 44AD?
Old Query - New Comments are closed.
As pr section 44AD on IT Act for computation of income under this section there are three important conditions:
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 referred 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 referred 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 rupees.
For any further tax related queries contact me on 9905126744.
Old Query - New Comments are closed.