Section 44AD(as amended)
This query is : Resolved
27 April 2011
I need to ask the query for the new section as amended in Finance Act, 2010.
Whether now the whole sellers, manufactures and contractors shall be covered under this section.
According to my opinion this section is an inclusive section and shall now cover along with the retailers, whole sellers, manufactures and contractors, because section 44 AF was an exclusive section and specifically covered the retail business.
Whether now the whole sellers, manufactures and contractors shall be covered under this section.
According to my opinion this section is an inclusive section and shall now cover along with the retailers, whole sellers, manufactures and contractors, because section 44 AF was an exclusive section and specifically covered the retail business.
27 April 2011
For the purpose of section 44AD “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 sixty lakh rupees.
As per above all types of business except as mentioned in section 44AE are covered.
But in my opinion Income from any Profession is not covered by this section.
(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 sixty lakh rupees.
As per above all types of business except as mentioned in section 44AE are covered.
But in my opinion Income from any Profession is not covered by this section.
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
- Supply through E-commerce Operators
- Relief u/s Section 89
- Rent lease agreement
- REGARDING GST LIABILITY/....
- Tax liability on income of freelancer
- Merchant Export Accounting
- REGARDING SECTION 44AE
- E way bill for tractors
- SGST balance is there in credit ledger how to adjust for cgst
- GST Registration Horse racing
- Sales return eway bill
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
