19 May 2016
Dear Experts , i want to know if a doctor who is getting profession fees (Part timer) from hospital & he also practice in his clinic get total Rs 12 lacs . can he file his return ITR 4S under section 44AD
19 May 2016
No, Those who are who are carrying on profession of legal, medical, engineering, architectural, accountancy, technical consultancy, interior decoration, an authorized representative, film artist, company secretary and information technology, they can not file ITR 4S
Abhishek Ranjan Singh ARS Solutions www.arssolutions.co.in +919022838615
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19 May 2016
Professional like doctors is covered under section 44AA, so they are not eligible to file ITR u/s 44ad. Professional income exceeding Rs.25 lakh will come under tax audit purview.
20 May 2016
The new amendment in Finance Bill 2016, gives an opportunity for professionals having gross receipts upto 50 lakh, to go by presumtive taxation. The profit shall be deemed to be 50% of the gross receipts......and then no books of acounts are asked for,
20 May 2016
in f y 2015-16 not applicable , new section 44ADA applicable from next financial year. now you have to file form-4 under maintainance of books of account u/s 44AA.
CAclubindia
