Amendment of section 44AD.

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..... y: (6) The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to (i) a person carrying on profession as referred to in sub-section (1) of section 44AA; (ii) a person earning income in the nature of commission or brokerage; or (iii) a person carrying on any agency .....

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..... agency business. This amendment will take effect retrospectively from 1st April, 2011 and will, accordingly, apply in relation to the assessment year 2011-2012 and subsequent assessment years. The existing provisions in clause (b) of the Explanation to the aforesaid section 44AD defines the term eligible business to mean any business except the business of plying, hiring or leasing goods .....

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