44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2013
I receive consultancy charges from a foreign company which is below Rs 1 crore, so can i opt for 44AD???
Further I sold a house this year and also purchase another for exmption under 54, but if I opt for 44AD, I have to use ITR 4S and in that ITR there is no column for CAPITAL GAIN.....
Confused@@....pls share your views asap!!!
Further I sold a house this year and also purchase another for exmption under 54, but if I opt for 44AD, I have to use ITR 4S and in that ITR there is no column for CAPITAL GAIN.....
Confused@@....pls share your views asap!!!
22 July 2013
If you are not a professional mentioned in section 44AA(1) or other professional notified as per notifications SO 17(E) dated 12-01-1977, SO 2675 dated 25-09-1992 and so 385(E) dated 04-05-2001, you are eligible to opt presumptive taxation under section 44AD.
ITR4S can't be used if you have income under 'capital gains'.
ITR4S can't be used if you have income under 'capital gains'.
22 July 2013
Regarding second query, You have to use ITR 4 in that case.
First query is bit controversial, Sec. 44AD specifically excludes professions covered u/s 44AA. So first check whether yours is the one covered under that section.
First query is bit controversial, Sec. 44AD specifically excludes professions covered u/s 44AA. So first check whether yours is the one covered under that section.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Foreign lottery ticket bought online from India: legality, tax and consequences
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
