Sec 44ad
This query is : Resolved
Querist : Anonymous
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????
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????
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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