Presumptive taxation scheme of section 44ad

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shrishail (Querist)
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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.

Amol S Joglekar

Amol S Joglekar (Expert)
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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

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