Section 44ad
This query is : Resolved
03 July 2019
sir as per ur reply given ...., in case of person teaching in college like professor (done PHD) and tds deducted u/s 194J in that case we have to take income as salary or we can make profit and loss account or can take 44AD, plz guide
03 July 2019
If TDS u/s 194J is deducted then it is not salary income. You can file return u/s 44ADA showing 50% profit.
04 July 2019
194J and 44AD will not match. Have to prepare I &E and BS since 44ADA is also
doesn;t apply in view of 44AA(1).
doesn;t apply in view of 44AA(1).
Message likes :
1 times
04 July 2019
Yes Warrier sir is right, you have to maintain books of accounts if profit falls below 50% and you have to get books of account audited if NTI exceeds 250000 which is income not chargeable to income tax ( Basic Exemption)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- SEC 54 OF IT ACT
- Form 26QB for TDS on property
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- RCM - commercial rent paid to URP under GST
- Partnership Business Can start India (two partners one is Indian and OCI both are wife and Husband)
- Payable outstanding for years disallowance
- DTCP approval
- Whether still royalty
- Strategic Performance Management and Business Valuation
- Appeals vs Writ court -certain doubt
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
