Income from profession (doctor)
This query is : Resolved
RADHAKANTA DAS
(Querist)
18 July 2016
If a doctor earning Rs.20,00,000 from his profession he is bound to conduct audit his accounts or not.
i) There is any specific section like 44AD is there for doctors or not for AY 2016-17.
ii) If not then the tax audit limit is Rs.25,00,000 for professional if income is below 25 lakh what would do?
i) There is any specific section like 44AD is there for doctors or not for AY 2016-17.
ii) If not then the tax audit limit is Rs.25,00,000 for professional if income is below 25 lakh what would do?
19 July 2016
For the purpose of a person carrying on the profession (which includes doctors), the amount of gross receipts is Rs. 25 lakhs for AY2016-17. From assessment year 2017-18 it will be Rs. 50 lakhs.
S. 44D is used for the person who does not want to maintain books of accounts and want to compute the income on estimate basis and it includes medical professionals.
S. 44D is used for the person who does not want to maintain books of accounts and want to compute the income on estimate basis and it includes medical professionals.
Message likes :
1 times
19 July 2016
Section referred is 44ADA and not 44D.
Message likes :
1 times
RADHAKANTA DAS
(Querist)
19 July 2016
Thank you sir for reply me, Dear Mr.B.Chackrapani Warrier ji 44ADA is applicable from AY 2017-18 I am asking for AY 2016-17 whether 44AD is applicable for carrying profession like Doctor or not.
Dear Madam firstly thanks for reply, you are saying 44AD is applicable for carrying profession if it is applicable why IT Dept introduced 44ADA from AY 2017-18. I am confused.......
Dear Madam firstly thanks for reply, you are saying 44AD is applicable for carrying profession if it is applicable why IT Dept introduced 44ADA from AY 2017-18. I am confused.......
19 July 2016
Section 44AD is not applicable for doctors (Professional Income) for AY 2016-17.
Message likes :
1 times
RADHAKANTA DAS
(Querist)
20 July 2016
If any doctor has income below 25 lakhs in a financial year what would do?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
