Section 44ad

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student of CA
39 Points Joined December 2016
Happy Day Sir, If a Proprietary concern employing 8 engineers doing export of services in computer aided design and the gross receipt is less than 1 crore. can this concern be considered as Business or Profession for taking benefit of Section 44AD / 44ADA? Thank You for reading my query and replying the same..
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On 08 December 2016 at 15:41 Report
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Chartered Accountant
236 Points Joined January 2014

Yes they can apply 44AD

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On 08 December 2016 at 17:58
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student of CA
39 Points Joined December 2016

how to convince the assessing officer if he ask for proof as per act waiting for ur kind reply 
 

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On 08 December 2016 at 18:41
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student of CA
39 Points Joined December 2016

Happy Morning,

If it is the Computer Aided Design(cad) services relating to CONSTRUCTION, what bwill be ur answer for the purpose of section 44AD.Is it a Business Or Profession?

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On 09 December 2016 at 09:38
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Practising Chartered Accountant
104 Points Joined March 2015
Section 44AD doesn't applicable to the professionals. However Section 44ADA may cover the professions as it specially designed for the persons not cover under Section 44AD. You can check the definition of professions under 44AB and make your statement to the A.O.
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On 09 December 2016 at 10:07
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student of CA
39 Points Joined December 2016

thank u for replying sir but my question is "a proprietory concern employing engineers to do the cad service relating to constructions"

does the proprietory concern shall be considered as business or profession?

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On 09 December 2016 at 10:30


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