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Presumtive income u/s 44 ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2011 Can Prfessional Incomes like Coaching Classes Income, Consultation Charges of Lawers & Doctors, Any Interest or commission receipts are comes under the provision of Sec. 44 AD or only trading business is necessary?
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C.P.CHUGH

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C.P.CHUGH (Expert)
06 December 2011 Newly introduced section 44AD covers all eligible business. An eligible business is any business whose turnover or gross receipt does not exceed the limit specified u/s 44AB of the Act. However it does not include Income from Profession or income from Other Sources such as consultancy fee of Lawyers/Doctors or receipt from interest.
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Ratan Sharma

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Ratan Sharma (Expert)
06 December 2011 Agreed with expert.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
17 March 2012 The experts have given their correct and expert advise follow it
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