If a person have two professions,
Can he avail 44ADA two professions separately ?
Section 44ADA APLICABILITY:
One cannot have two professions simultaneously.
Eswar Reddy S (CFO- at NHTF) (58263 Points)
27 March 2022
sabyasachi mukherjee
(27167 Points)
Replied 27 March 2022
Eswar Reddy S
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(58263 Points)
Replied 27 March 2022
CA Surya Sekar
(CFO )
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Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 27 March 2022
Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 27 March 2022
JJJ
(Need help)
(673 Points)
Replied 27 March 2022
It's definitely possible - and common - to have more than one business / profession / house / dog / job!
But when it comes to taxes, unfortunately, the income needs to be combined.
I presume you are looking at someone who has over 25 lakh income from each of the two professions? If so then both need to be added and that will probably mean no presumptive at all.
I can't reference a rule (almost definitely no such rule exists) but there seems to be no such option in the returns.
ALAMELU.N.N
(student)
(258 Points)
Replied 27 March 2022
Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 28 March 2022
CAclubindia
