Section 44AD relating to presumptive taxation applies only to businesses run by residents Individual, HUF and Firms excluding LLP. Tax on presumptive basis should be extended to all assessees, including a LLP. Only section 44AD excludes LLP, for which there appears to be no cogent reason. Otherwise under the Act, a LLP and a Firm are treated at par.


The benefit of section 44AD should also be made available to LLP.

Source-  ICAI Pre-Budget Memorandum–2018 (Direct Taxes and International Tax)

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