44AD & 44ADA-
This query is : Resolved
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Ankit Somani
(Querist)
24 July 2023
Sir
I am salaried employee which is major income. Apart from it, there are below 2 incomes:-
a) Income from Freelancing ( Online Q&A from Chegg, Bartleby, Transtutor & like these online portals)
b) Income from Examinership & Observership from ICAI,ICSI, ICMAI
I was of the view that
Freelancing Income (a) involves Technical knowledge.
Whether 44AD- Code 16019-Other professional services n.e.c. or
Whether 44ADA- Code 16005-Engineering & Technical consultancy
Please advise.
Examinership fees:- Can this be under Professional Receipt or I need to classify as Other Income in
I am salaried employee which is major income. Apart from it, there are below 2 incomes:-
a) Income from Freelancing ( Online Q&A from Chegg, Bartleby, Transtutor & like these online portals)
b) Income from Examinership & Observership from ICAI,ICSI, ICMAI
I was of the view that
Freelancing Income (a) involves Technical knowledge.
Whether 44AD- Code 16019-Other professional services n.e.c. or
Whether 44ADA- Code 16005-Engineering & Technical consultancy
Please advise.
Examinership fees:- Can this be under Professional Receipt or I need to classify as Other Income in
CA R SEETHARAMAN
(Expert)
25 July 2023
Use 44ADA- Code 16005-Engineering & Technical consultancy
It's professional receipt.
It's professional receipt.
Ankit Somani
(Querist)
26 July 2023
If it is technical services, then TDS must be deducted @2 percent but here TDS is deducted as 10 percent.
Hence whether examinership fees can be
under Normal Business income or Persumptive.
Further a person can claim Normal Business, profession income as well as Persumptive income ( 44AD and 44 ADA) along with salary and file ITR 3
Hence whether examinership fees can be
under Normal Business income or Persumptive.
Further a person can claim Normal Business, profession income as well as Persumptive income ( 44AD and 44 ADA) along with salary and file ITR 3
CA R SEETHARAMAN
(Expert)
26 July 2023
It's professional income.
Yes, a person can claim Normal Business under 44ad and profession income under 44ADA along with salary and file ITR 3.
Yes, a person can claim Normal Business under 44ad and profession income under 44ADA along with salary and file ITR 3.
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