Applicability of sec 44ad or 44ada
This query is : Resolved
03 November 2020
business code Other professional services n.e.c. 16019.
Can ITR be filed under sec 44AD or 44ADA for services rendered under above business code?
Can ITR be filed under sec 44AD or 44ADA for services rendered under above business code?
03 November 2020
44ad for trading and contractor services, 44ADA for professional services only
03 November 2020
Does it mean that for those who choose business code 16019 ca not file their return under sec 44AD or 44ADA? Then they have to file under normal provisions. If they do not maintain accounts, then they can indicate profit less than 8%, without audit? If they earn a fee of 20 lakhs annually then do they have to compulsorily maintain accounts and provide P & L account and balance sheet?
04 November 2020
You have to file itr -3 in that you can able to choose other professional services in other business or professionals
05 November 2020
Sir, my query is whether in this case, in ITR3, profit can be shown under sec 44AD 0r 44ADA with choosing accounts not maintained or whether accounts are compulsory required to be maintained and P & L and B/S details have to be provided?
05 November 2020
You choose one more other than 44ad or 44 Ada you can declare income where you can choose other professional income
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