24 September 2020
Will all other professions not specified in section 44ADA (like Teaching, Anchor and etc.) will be covered under 44AD? If not then how we should treat them?
My client is an anchor and her gross receipts are approx. 20 lakhs. I have been showing her income under 44AD for last three years taking margin of 50% to be on safer side. Please help with the correct treatment.
Do I need to maintain her accounts and show the exact margin along with submitting final accounts while submitting the return?
24 September 2020
44AD not applicable to her. You need to maintain her accounts and show the exact margin along with submitting final accounts while submitting the return.
CAclubindia
