U/S.44ad, Turnovers, U/S 44ae, Presumptive Taxation

Description:

• Any business except the business of plying, hiring or leasing of goods carriages referred to in section 44AE; and.
• Whose total turnover or gross receipts in the previous year does not exceed an amount of sixty lakh rupees.
  There fore, all the above businesses will be covered by section 44AD.

Source:
1. www.tpcc.in                                                   
2. The Tax Referencer .Volume121. Issue No.6, 10.Oct, 2011, Page No.25.

Our Comment:
All businesses except plying, hiring or leasing of goods carriages are covered U/s. 44AD (Presumptive Taxation)