TV (Television) Repair/Service Work

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This discussion clarifies tax filing for TV repair and service work, confirming that Section 44AD of the IT Act is applicable. It addresses profit margin queries, stating that the 50% profit rule under 44AD is a minimum, and any profit earned is acceptable. The advice also covers using the residential address from PAN for ITR filings, especially when a business address isn't available or for loan applications.

Prakash Nayak

Prakash Nayak (Querist)

23 October 2021 My Customer doing TV repair/Service work. It is coming under Sec 44AD or 44ADA.
Which sec can I file it.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 You can declare it u/s. 44AD of IT act..

Prakash Nayak

Prakash Nayak (Querist)

23 October 2021 Thank you sir for your valuable Reply. And one more thing 50% profit applicable or not ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 Under sec 44AD there is cap of minimum profit margin, but not for maximum, or whatever actually earned.
So go ahead if you have 90% profit margin also..

Prakash Nayak

Prakash Nayak (Querist)

23 October 2021 Thank you Sir Very much. It is highly helpful me.

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 My Pleasure ....

Prakash Nayak

Prakash Nayak (Querist)

23 October 2021 He is doing TV Repair in rented premise. can i mention residence address or Business address in ITR

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 Copy the address as per PAN...

Prakash Nayak

Prakash Nayak (Querist)

23 October 2021 In PAN there is residential address not business address (Proprietary Concern). M customer applying loan for house construction in nationalized Bank. The house address sufficient for bank.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 Yes, till the address in PAN gets changed, it will be same for any Governmental agency, be it Bank.

Prakash Nayak

Prakash Nayak (Querist)

23 October 2021 Thank you Sir, I learned so much from you. Once again Thank you .

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

23 October 2021 Most Welcome...

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