Amendment of section 44AD

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..... lakh rupees" shall be substituted with effect from the 1st day of April, 2011. - Clause 15 of the Bill seeks to amend section 44AD of the Income tax Act relating to special provision for computing profits and gains of business on presumptive basis. The existing sub-clause (ii) of clause (b) of the Explanation to the aforesaid section defines the term eligible business to mean any business .....

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