Section 44ad clarity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2015
1.) I own one IT Consultancy and service , development company and work as director but i dont draw much salary i should say 0 salary
2.) I do have some contracts with my clients which pay as me directly in my account withoit any relation with my company
Can I be considered apply for Section 44AD ? as my understanding NO - as I am II engineer and technology company
please confirm
2.) I do have some contracts with my clients which pay as me directly in my account withoit any relation with my company
Can I be considered apply for Section 44AD ? as my understanding NO - as I am II engineer and technology company
please confirm
CA P RAVICHANDRA
(Expert)
06 June 2015
Sec 44 AD is not applicable for the professional services.
if u have further doubts pl contact ca.prchandra@gmail.com
if u have further doubts pl contact ca.prchandra@gmail.com
Nikhil Kaushik
(Expert)
06 June 2015
you are covered under section 44AA. Hence section 44AD is not applicable to you. You need to File ITR-4 and comply with 44AA provisions with regards to maintenance of books of accounts.
check for application of 44AB limit (rs 25 lakhs) for audits in case of professionals
check for application of 44AB limit (rs 25 lakhs) for audits in case of professionals
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
- Visiting card purchase
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- Equity Share Sale and Purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
