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.
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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..:)
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