Sec 44bb vs 44da and 115a
This query is : Resolved
CA Vishal Mehta
(Querist)
25 September 2016
For nri in.oil and gas field till now almost everyone used to take benefit of 44bb.now my question is after insertion of.44da does a service provider to oil and gas companies have.option of.going under 44bb or will qualify as technical.service and get covered in 44da
Soumitra Basu
(Expert)
28 September 2016
IF THE SERVICE CAN BE CATEGORISE UNDER SECTION 44AA, THE ASSESSEE HAS AN OPTION FOR DECLARING PROFIT UNDER SECTION 44ADA
CA Vishal Mehta
(Querist)
06 October 2016
Well i am not sure thats correct.I am being specific to whether he can still avail 44bb and as per my latest knowledge of the subject and supreme court case law i think answer is yes and NRI can still avail as long as services are specific as mentioned in 44bb
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