Income tax returns under section 44ada
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2018
I am a partner in a firm which runs a medical clinic/small hospital. Other partner is a practising medical doctor while I am an investor and manages the space. Can my partnership firm file Income Tax return under Section 44ADA using form ITR-4 in AY-18-19? If not any other section which allows not to keep books of accounts?
14 June 2018
44ADA is not applicable since one partner is a non professional per 44AA(1)
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 June 2018
That section does not specify that the other partner cannot be a non professional. If we consider the firm as a person, then as per the section the firm falls under a profession of medical.
15 June 2018
Just give your number ill transfer to my CA, he will guide u or else send query at https://ca4you.in/
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