Taxation of tuition fee

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This query is : Resolved

Subrahmanyam (Querist)

31 July 2013 Hi, can anyone pl confirm if Tuition fee received by an individual and for whom TDS is being deducted

- Can he claim Provision of Sec 44AD of Presumptive taxation of 8%.

Thanks.

Ganeshbabu K

Ganeshbabu K (Expert)

31 July 2013 No Sec.44AD is not applicable for professionals

Ganeshbabu K

Ganeshbabu K (Expert)

31 July 2013 No Sec.44AD is not applicable for professionals

you need to file ITR4

And books of accounts mandatory if gross receipts exceeds more than 120000

Subrahmanyam

Subrahmanyam (Querist)

31 July 2013 But teaching (subject like Hindi etc) is not a specified profession like accountancy, legal etc.. So is it right to consider the same as profession..?

Also Sec 44AD only says that profession is excluded from its ambit, will teaching really fall under the definition of Profession.

Rupesh Jain

Rupesh Jain (Expert)

31 July 2013 assesse service cover under like a professional not the labour work

it cover under profession work and you have to maintain books of account and if receipts is over 25 lacs in a year then you have to take audit report also.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)

02 August 2013 Wo teaches? I think it is teacher who is specialised in that subject so he is a professional like advocate, CA, CS and other professional people. So, you cannot cover yourself under 44AD.

You should note that you are covered under service tax as you are not selling any goods it is services which you are selling and accordingly 44AD cannot be covered in your case.

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