The scheme of section 44AD is designed to give relief to small taxpayers engaged in any business except the following businesses:
- Assessee carrying on a business of plying, hiring or leasing of goods carriages referred to in section 44AE.
- An assessee who is carrying on agency business.
- An assessee who is earning any income in the nature of Commission or Brokerage.
To know more about the limitations, benefits, compliances look at our blog here.