44AD OR 44ADA for cooking services?
Mitesh Shah (Article) (80 Points)
09 July 2024
cooking services liable to tax under which head??
3 Replies
Mohammed Nadeem Ansari
(99 Points)
Replied 09 July 2024
Cooking services would generally fall under the ambit of Section 44AD, which pertains to the presumptive taxation scheme for businesses. Section 44ADA is specifically for professionals like doctors, lawyers, and architects. If you are running a cooking service business, you would use Section 44AD for your presumptive income calculation.
CA Anoop Kumar Sharma
(Accounts Manager)
(2065 Points)
Replied 10 July 2024
Section 44AD applies to businesses, including small traders, contractors, and other non-professional enterprises, while Section 44ADA is for professionals. Therefore, it will be more relevent cooking services fall under Section 44AD.
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