business or profession

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2011 a event management firm has provided services for promotion and launching of a product in market.

TDS has been deducted under section 194J.

Whether it will be covered under business or profession.

Can I calculate income under section 44AD for it ?

U S Sharma

U S Sharma (Expert)
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15 July 2011 44AD not available for profession

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2011 Whether all services for which TDS is deducted u/s. 194J will covered undeer professsion ?

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Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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16 July 2011 Event Management is a service but not a profession. TDS has been made under 194J doesnot mean it is profession. So, in this case, it will be covered under business. You can go for 44AD in this case.