Business codes profits assumed in proprietorship business

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Rahul Singh (Querist)
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26 December 2021 in proprietorship business what is the profit assumed under of business codes 16019, 14001, 14002, 14009, 14010, 14005, 15003 ?

does it create any problem if business code is changed from previous year? professional to business

what is different in ada or ad in business codes?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 December 2021 What is the nature of your business.

Rahul Singh

Rahul Singh (Querist)
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26 December 2021 business fits in all these codes mostly but want to know what is the profit assumed for these business codes thanks

Rahul Singh

Rahul Singh (Querist)
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27 December 2021 any help ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 December 2021 Disclose nature of your business not the codes I am not conversant with so many codes.

Rahul Singh

Rahul Singh (Querist)
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28 December 2021 it / software related but not purely development or consultation

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 December 2021 50% profit has to be assumed in case you are a engineering professional providing IT services.
44AD can be opted if you are employed people and having office accommodation.

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