income of professional u/s 44AD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 May 2011
Please inform the following :
1. whether income of professional (engineer) can be decleared u/s 44AD as presumptive basis @ 8%.
2. Whether income above 8% can be decleared in ITR 4S (Sugam).
1. whether income of professional (engineer) can be decleared u/s 44AD as presumptive basis @ 8%.
2. Whether income above 8% can be decleared in ITR 4S (Sugam).
19 May 2011
Section 44AD is applicable only for business. The income earned by the engineer is not business income but professional income. So 44AD wont be applicable. Hence, the income has to be declared at actuals in form ITR-4 only.
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