Section 44ad

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2015
Dear Sir/Madam,

My query is
"Is section 44ad can applicable to professions other than those specified under section 44AA(1)?"

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 February 2015 no professionals allowed to opt for presumptive taxation scheme u/s 44AD.

refer this link and point no2.

http://www.charteredclub.com/section-44ad/

Rupesh Jain

Rupesh Jain (Expert)
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24 February 2015 section 44AD not applicable on any professional.

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2015 Thanks for your replies

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2015 Thanks for quick reply;

The wordings used in the Section 44AD are as follows:-

"The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;"

My doubt is that if the above section is not applicable to any profession than why specifically the profession specified in Section 44(1) has been excluded and not the profession mentioned in Section 44(2) i.e. non specified profession. By the wordings used it seems that the section only excludes specified professions and not others.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 February 2015 you are welcome friend......................

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 February 2015 Refer the ammendments made by Finance act 2012 WHICH have excluded all professionals.