Who Cannot Claim Presumptive Income Schemes

Last updated at Dec. 16, 2024 by

Who are Not Eligible to Claim 44AD Scheme

Professionals (44ADA is applicable)

Agency Business(For them Proper Books of Accounts to be Maintained and ITR3 to be filed)

All Companies(This scheme is only for Proprietorship/Partnership)

If turnover more than 2 Crores,then this scheme is not applicable

 

Who are Not Eligible to Claim 44ADA Scheme

Business(They are covered in Section 44AD)

Agency (44AD/44ADA is not applicable to them)

All Companies(This scheme is only for Proprietorship/Partnership)

If turnover more than 50 Lacs,then this scheme is not applicable

 

Who are Not Eligible to Claim 44AE Scheme

Those not in truck business(Example Passenger Transport Business)

If owning more than 10 trucks,then this scheme is not applicable

 

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.