Whether Professionals (as specified u/s 44AA) (whose gross receipt less than Rs.15lacs ) can file return under presumptive income u/s44AD or only small business men (whose TO less than Rs.40lacs) are eligible?
1 Replies
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 27 July 2011
44AD does not cover pofession. It relates to Business only whose T/o is below Rs 60 lacs.
Recent Topics
- Submit ommited invoice of previous year
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
Related Threads
CAclubindia
