An individual providing accounting services
This query is : Open
24 March 2016
Under which head accounting income should be posted? Can i go for 44AD section?
Suresh Ramaswamy
(Expert)
24 March 2016
No you cannot avail of Section 44AD. The services you render are consultancy services. This situation will prevail till 31st March 2016. For assessment year 2017 - 18, professionals with turnover of upto 50 lacs can avail of presumptive tax under new Section 44ADA offering 50% of turnover as profit. No hassles of maintenance of accounting records / tax audit.
27 March 2016
Iam not a chartered accountant here.. Iam just providing accounting services. So can i show under IOS?
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