Carpanter is professional service or business
VISHAL JAIN (Student CA Final ) (67 Points)
17 August 2021previous 3 years return filed u/s 44ADA shall I continue or change???
VISHAL JAIN (Student CA Final ) (67 Points)
17 August 2021
Deepa B
(Practicing Chartered Accountant )
(573 Points)
Replied 17 August 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
sabyasachi mukherjee
(27324 Points)
Replied 17 August 2021
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)