Return filing for Professional income earned
This query is : Resolved
DIVYESH JAIN
(Querist)
09 August 2021
Dear Sir,
One of my client earns professional income and his tds gets deducted U/s. 194J. I have filed return for him U/s. 44AD for F. Y. 2019-20 showing profits more than 8%.
Is it ok if I file his return under 44ad for this financial year 2020-21 or should I change the section to 44ada and show 50% profit.
Please help me regarding this matter.
Regards,
Divyesh Jain
One of my client earns professional income and his tds gets deducted U/s. 194J. I have filed return for him U/s. 44AD for F. Y. 2019-20 showing profits more than 8%.
Is it ok if I file his return under 44ad for this financial year 2020-21 or should I change the section to 44ada and show 50% profit.
Please help me regarding this matter.
Regards,
Divyesh Jain
CMA Poornima Madhava
(Expert)
09 August 2021
Not all professional income can be taxed under section 44ADA. Just check if such profession is covered for 44ADA.
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