Presumptive income under 44ad

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 October 2014 Dear Sir/Madam,

I am running coaching classes and my yearly income is around 14 lacs p.a.

Is it ok if i file my tax return under presumptive income under 44AD ?

Thanks

Best regards
Patel
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
05 October 2014 there are two views on this. one view is that since coaching is not covered under 44AA(1), it can be covered under 44AD

the other view is that no profession can be covered under 44AD. However, whether a coaching can be covered under the term profession itself is an issue

Among the above two, I am in favor of the first view.
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
05 October 2014 44AD not applicable for in your case since it is Professional Income.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
19 October 2014 i go with sanjay bhai's view...............

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links