Selling of medicines transaction professional service purpose income treatment allowed
This query is : Resolved
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Kollipara Sundaraiah
(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
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
03 September 2024
Professional services can be declared u/s. 44ADA IT act. But he has to declare pharmacy business under normal assessment.
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Kollipara Sundaraiah
(Querist)
03 September 2024
sir,
medicines all transactions business expenses claimed in sec 44 ada itr show allowed or not.
medicines all transactions business expenses claimed in sec 44 ada itr show allowed or not.
03 September 2024
Yes, allowed if aggregate receipts are declared u/s. 44ADA IT act.
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