Whether market research is considered as notified profession under section 44 aa (1) ?

Nikhil Joshi (Chartered Accountant) (54 Points)

06 June 2019  

Dear Members,

I have query regarding Market Research business. As per provisions of Section 44 AD of IT Act, specified professions to be taxed under Section 44 ADA and those professions are notified under Section 44 AA (1). While going through list of professions, i have not identified Market Research as separate profession so can we consider the same is excluded from list and sales proceeds from Market Research business to be taxed under Section 44 AD ( 8 % of receipts )?

 

Thanks for reading,

Nikhil