Amendment of section 44AD.

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Full Text of the Document

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....- Clause 16 of the Bill seeks to amend section 44AD of the Incometax Act relating to special provision for computing profits and gains of business on presumptive basis. Sub-section (1) of the said section provides that notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an eligible assessee engaged in an eligible business, a sum equal to eight per cent. of th....