Amendment of section 44AD.

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....this section, notwithstanding anything contained in the foregoing provisions, shall not apply to-- (i) a person carrying on profession as referred to in sub-section (1) of section 44AA; (ii) a person earning income in the nature of commission or brokerage; or (iii) a person carrying on any agency business."; (b) in the Explanation, in clause (b), in sub-clause (ii), for the words "sixty la....

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....y in relation to the assessment year 2011-2012 and subsequent assessment years. The existing provisions in clause (b) of the Explanation to the aforesaid section 44AD defines the term "eligible business" to mean any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE and whose total turnover or gross receipts in the previous year does not exceed s....