sec 44ada

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priyankagupta (Querist)

24 May 2017 If i provide coaching to students. Am i eligible for 44ada.wat is main benefit that we gained only in filling under sec. 44ada

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

24 May 2017 only specified professionals(like doctors, engineers and auditors) are eligible to file ITR u/s 44ADA. You are not eligible. 50% gross income considered as taxable income for which no books of ac need to be maintained.

Nikhil Kaushik

Nikhil Kaushik (Expert)

24 May 2017 by that logic he should be able to claim much better taxation under 44AD as it only excludes 44AA professions.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 May 2017 44AD applicable for business, an individual providing coaching to students will not fall under business. In case he runs a coaching institute it will fall under business.

Nikhil Kaushik

Nikhil Kaushik (Expert)

26 May 2017 i don't think that distinction comes from the way the section is written. If you go by your definition, it sounds something like this: 44AD excludes only the 44AA(1) professions and 44ADA includes only such professions. Thus every other profession is excluded from both the sections! is that whats your import is?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 May 2017 Yes every other profession is excluded from both the section.

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