Practicing Chartered Accountant
573 Points
Joined June 2021
Kindly change because only the below mentioned professionals can opt for 44ADA. Carpentry needs to be considered as business and accordingly 44AD can be opted subject to the condition that the turnover is within the limit, prescribed for presumptive taxation.
Professions covered u/s 44AA (1) of the Income Tax Act, 1961:-
1. Legal
2. Medical,
3. Engineering
4. Architecture
5. Accountancy
6. Technical consultancy
7. Interior decoration
8. Other notified professionals:-
a) Authorized representatives
b) Film Artists
c) Certain sports related persons
d) Company Secretaries and
e) Information technology