Accounting fees received can be u/s. 44 ad
This query is : Resolved
05 July 2013
SIR,
ONE CAN SHOW THE ACCOUNT FEES RECEIVED AS A INCOME FROM BUSINESS/PROFESSION U/S.44 AD (8 % PROFIT)?
ONE CAN SHOW THE ACCOUNT FEES RECEIVED AS A INCOME FROM BUSINESS/PROFESSION U/S.44 AD (8 % PROFIT)?
CA Vikas Acharya
(Expert)
05 July 2013
accountancy is a profession
and from finance act 12 onwards
profession are not allowed to use 44AD
GIVEN IN 44AD(6) TEXT AS FOLLOWS:
The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;
and from finance act 12 onwards
profession are not allowed to use 44AD
GIVEN IN 44AD(6) TEXT AS FOLLOWS:
The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;
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