Applicability of 44ad

RAKSHIT MEHTA (tax consultant) (114 Points)

13 April 2017  

A PERSON IS IN BUSINESS OF MEDICAL HOSPITAL, GROSS RECEIPT FOR THE YEAR WERE 78,00,000/-(APPROX.), OUT OF WHICH 52,00,000/- WERE PAID BY GOVT. UNDER NATIONAL INSURANCE SCHEME U/S 194J AND TDS WAS DEDUCTED FOR THE SAME U/S 194J, CAN HE OPT FOR DECLARATION OF HIS INCOME UNDER SECTION 44AD SINCE HE IS NOT AN QUALIFIED MEDICAL PROFESSION AND IS IN BUSINESS OF HOSPITAL?