Selling of medicines transaction professional service purpose income treatment allowed

This query is : Resolved 
Quick Summary
This discussion clarifies whether a doctor operating a dental clinic and selling medicines can utilise the presumptive taxation scheme (Section 44ADA of the IT Act) for their pharmacy business income. It confirms that if the aggregate receipts are declared under 44ADA, the sale of medicines can be considered part of professional services, and business expenses claimed within this scheme are generally allowed.

Profile Image

Profile Image

(Querist)
03 September 2024 Sir,
A Doctor maintained a dental clinic and selling of medicines in pharmacy Stores turnover rs:50 lacs below opt presumptive scheme itr returns filed.but assessess selling of medicines transaction professional service used purpose income treatment in itr returns allowed or not
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
03 September 2024 Professional services can be declared u/s. 44ADA IT act. But he has to declare pharmacy business under normal assessment.
Profile Image

Kollipara Sundaraiah

Profile Image

Kollipara Sundaraiah (Querist)
03 September 2024 sir,
medicines all transactions business expenses claimed in sec 44 ada itr show allowed or not.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
03 September 2024 Yes, allowed if aggregate receipts are declared u/s. 44ADA IT act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Arun BoradArun BoradPro Member CA Saurabh JadhavCA Saurabh JadhavPro Member Prakash KaduluriPrakash KaduluriPro Member Pushkar NagdaPushkar NagdaPro Member SuhasiniSuhasini
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category