Section 44ad
This query is : Resolved
12 April 2016
whether any person engaged in online Activities like sale of license of inhouse built software can fall under Section 44AD??????????????
KAVIRAJA ADDANGADI
(Expert)
12 April 2016
I don't think it is business under section 44AD, it is a professional service.
Amol S Joglekar
(Expert)
12 April 2016
"eligible business" means,—
(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of one crore rupees.
EXCEPT:
The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;
(ii) a person earning income in the nature of commission or brokerage; or
(iii) a person carrying on any agency business
(i) any business except the business of plying, hiring or leasing goods carriages referred to in section 44AE; and
(ii) whose total turnover or gross receipts in the previous year does not exceed an amount of one crore rupees.
EXCEPT:
The provisions of this section, notwithstanding anything contained in the foregoing provisions, shall not apply to—
(i) a person carrying on profession as referred to in sub-section (1) of section 44AA;
(ii) a person earning income in the nature of commission or brokerage; or
(iii) a person carrying on any agency business
13 April 2016
how can be it falls under professional service?? please explain it???
Amol S Joglekar
(Expert)
13 April 2016
is it selling/trading in software OR liscence???????
14 April 2016
Sir, jaise 1 software bna liya.....jo ki facebook pe Ads dene me help karta hai..........to hum hmare buyers ko Software sell kr dete hai with a license key, jis se ki Buyers software use kar ske and Ads de ske....................................to kya ye income 44ad mein fall kregi ya nai????? or is Income ko naam kya denge--- income from online activities ya IT income ya or kuch???????????????????
Amol S Joglekar
(Expert)
14 April 2016
you can avail 44AD. It is income of right to use the software.
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