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Sec 44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 February 2014 If sec 44AD is applicable only for a person carrying on business & not any profession.
Then how to determine the taxability for a person who is carrying on profession & his turnover is less than the taxable limit under 44AB. If the criteria of 8% of total turnover is not applicable to him.Then how is he required to pay tax?????Should we apply the usual tax rate for this purpose????
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
13 February 2014 then normal provision of income tax act will be applicable as we cal for business under business head.
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