Applicable for sec44ada or sec 44ad
This query is : Resolved
21 March 2020
Assess source of income mentioned below.
1. Gross receipts income from professional income.Rs.21,00,000/-
2. Sales turnover from pharmacy.Rs.9,00,000/-
Assess return filed sec 44ada or sec 44ad applicable in I.t. act.
1. Gross receipts income from professional income.Rs.21,00,000/-
2. Sales turnover from pharmacy.Rs.9,00,000/-
Assess return filed sec 44ada or sec 44ad applicable in I.t. act.
21 March 2020
The business and profession (activities) are registered separately - You can very well apply both sections and disclose income from business under 44AD and income from profession under 44ADA.
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