Section 44ad/44ada
This query is : Resolved
CA. Anshul Medatwal
(Querist)
06 February 2018
Dear Sir/Ma'am,
According to the Income Tax Act, Medical are covered under section 44ADA. I want to know, whether Medical shop are also covered in section 44ADA i.e., under medical. What if I took income from medical shop under 44AD and shows income 30% of turnover.
According to the Income Tax Act, Medical are covered under section 44ADA. I want to know, whether Medical shop are also covered in section 44ADA i.e., under medical. What if I took income from medical shop under 44AD and shows income 30% of turnover.
07 February 2018
Section 44ADA Covers only Professionals such as Doctors, CAs, Advocates etc. Medical store owner is considered as a trader and not a Professional. So According to me Section 44AD will be applicable to him/her. So You may rightly disclose any profit above 8%.
Message likes :
1 times
CA. Anshul Medatwal
(Querist)
07 February 2018
Thankyou so much sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
