44ad or 44ada or not eligible for presumptive?
This query is : Open
30 March 2017
When 44ADA was not in existence whether professionals were not allowed to opt presumptive taxation?
What if a professional doesn't fall under specified professionals as per 44ADA/44AA, is he eligible to opt for presumptive taxation?
Mainly my concern is with proprietorship commercial coaching service provider, is he eligible for this scheme? This doubt is raised due to expression of word "business" under 44AD which confuses me that earlier when 44ADA was not in existence professional were not allowed to opt this presumptive scheme!
Please answer and correct me if I am wrong!
Thanks
What if a professional doesn't fall under specified professionals as per 44ADA/44AA, is he eligible to opt for presumptive taxation?
Mainly my concern is with proprietorship commercial coaching service provider, is he eligible for this scheme? This doubt is raised due to expression of word "business" under 44AD which confuses me that earlier when 44ADA was not in existence professional were not allowed to opt this presumptive scheme!
Please answer and correct me if I am wrong!
Thanks
30 March 2017
1 Professional not allowed for presumptive fax when 44ada non existent.
2 Only eligible professional opt for 44ada.
3 you are eligible for 44ad provided you are running the coaching center as business entity by hiring people for coaching.
2 Only eligible professional opt for 44ada.
3 you are eligible for 44ad provided you are running the coaching center as business entity by hiring people for coaching.
Message likes :
1 times
30 March 2017
but in this case proprietor himself also teaches there...
30 March 2017
No problem but he alone teaches he can't treat it as business.
30 March 2017
It means he can go for 44AD since he hires 3-4 more teachers along with himself to teach..?
30 March 2017
Yes, running a coaching center will be considered as business.
30 March 2017
okk..thankyou so much..:)
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
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Management System (IMS)
- Putting a heading on received mail
- 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
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
