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Who is eligible to take advantage of the presumptive taxation scheme of section 44AD? ​​​

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Who is eligible to take advantage of the presumptive taxation scheme of section 44AD? ​​​
posted Jun 23, 2017 by Reshmi S

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The presumptive taxation scheme of section 44AD can be adopted by following persons :

1) Resident Individual
2) Resident Hindu Undivided Family
3) Resident Partnership Firm (not Limited Liability Partnership Firm)

In other words, the scheme cannot be adopted by a non-resident and by any person other than an individual, a HUF or a partnership firm (not Limited Liability Partnership Firm).

Further, this Scheme cannot be adopted by a person who has made any claim towards deductions under section 10A/10AA/10B/10BA or under sections 80HH to ​80RRB in the relevant year. ​

answer Jun 24, 2017 by Amrita
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