44AD & 44AB
This query is : Resolved
24 August 2017
Dear sir/ madam,
An electrical engineer have income from profession and doing work contracts, in this case he can file return for professional receipts under section 44ADA and business income under section 44AD?
25 August 2017
yes, but the limits under respective sections should NOT be used separately.....please be careful of section 44AA and 44AB, while doing so.
25 August 2017
once you are covered under 44AA professions, 44AD is ruled out.
25 August 2017
A better view is given by Nikhil Ji.
25 August 2017
May be because some people are NOT able to visualise and accept that a professional can have both types of incomes.....income from profession + income from business....(This is quite common in cases of engineers, architects, lawyers, unlike CA, CS and CMA)
25 August 2017
Amol, it is not a matter of visualization. Section 44AD excludes assessees covered under 44AA completely. So it is just a case of prohibition under the act.
25 August 2017
If an assesse have income as per section 44AA(2)(i), he can file his return u/s 44AD?
25 August 2017
as an engineer, you are covered under 44AA(1). So no 44AD
25 August 2017
i already answered the same above...you cannot use 44AD. go under 44ADA or normal non-presumptive taxation. also, please develop habit of reading the bare act.
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