Can a Chartered Accountant or Legal Practitioner take benefi
This query is : Resolved
anoop bhatia
(Querist)
30 May 2011
Sub: Can a Chartered Accountant or Legal Practitioner take benefit of sec 44AD.
Sir/Madam,
Initially the definition of section 44AD approves the benefit of computation of presumptive income only for eligible assessee doing Business.
But now ITR-4S has come. It contains the word "Business or Profession" instead of "Business".
Further list contains the Chartered Accountant and leagal practioner under nature of business or profession
Sir/Madam,
Initially the definition of section 44AD approves the benefit of computation of presumptive income only for eligible assessee doing Business.
But now ITR-4S has come. It contains the word "Business or Profession" instead of "Business".
Further list contains the Chartered Accountant and leagal practioner under nature of business or profession
CA PARAS BAFNA
(Expert)
30 May 2011
We have to go according to the Act and not according to the ITR Form in this case.
"Initially the definition of section 44AD approves the benefit of computation of presumptive income only for eligible assessee doing Business"
Now inform us as soon as you get any information about change in the initial position. It has not yet been changed.
"Initially the definition of section 44AD approves the benefit of computation of presumptive income only for eligible assessee doing Business"
Now inform us as soon as you get any information about change in the initial position. It has not yet been changed.
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