As per budget 2009, LLP are not eligible to get taxed under Sec. 44AD (New Section). This new section is effective from Asst. year 2011-12 only.
LLPs formations are allowed in the FY 2009-10.Then, How LLP will get taxed in the Asst yr. 2010-11? Will they can claim the Sec. 44AD option (Old section)?