Presumptive taxation scheme of section 44ad
This query is : Resolved
19 August 2015
Dear Sir,
I am a full time director of a company say "X".
During the year 2014-15 I have received sum of Rs. 4,80,000/- against business consulting fees from other company say "Y". They have deducted TDS under section 194J @ 10% and balance amount has been deposited in my bank account. Now my question is that shall I file My IT return under section 44AD considering 8% of gross receipt or not.
Please advise
Regards,
Shrishail.
I am a full time director of a company say "X".
During the year 2014-15 I have received sum of Rs. 4,80,000/- against business consulting fees from other company say "Y". They have deducted TDS under section 194J @ 10% and balance amount has been deposited in my bank account. Now my question is that shall I file My IT return under section 44AD considering 8% of gross receipt or not.
Please advise
Regards,
Shrishail.
Amol S Joglekar
(Expert)
19 August 2015
section 44AD (6): NOT applicable to person carrying on profession
Your TDS is done under 194J : Fees for professional or technical services.
So? Dont opt for 44AD
Your TDS is done under 194J : Fees for professional or technical services.
So? Dont opt for 44AD
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