44ad or 44ada or not eligible for presumptive?
This query is : Open
Niraj Nirala
(Querist)
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
CA R SEETHARAMAN
(Expert)
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
Niraj Nirala
(Querist)
30 March 2017
but in this case proprietor himself also teaches there...
CA R SEETHARAMAN
(Expert)
30 March 2017
No problem but he alone teaches he can't treat it as business.
Niraj Nirala
(Querist)
30 March 2017
It means he can go for 44AD since he hires 3-4 more teachers along with himself to teach..?
CA R SEETHARAMAN
(Expert)
30 March 2017
Yes, running a coaching center will be considered as business.
Niraj Nirala
(Querist)
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Form 144 TDS Return Validation error
- Applicability of tax on invoice
- Advances to related party
- Capital Gains Tax on Inherited Mutual Fund
- Employee secondment
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
