TV Repair Tax: Section 44AD vs 44ADA Explained

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

Prakash Nayak

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

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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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)
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23 October 2021 Thank you Sir Very much. It is highly helpful me.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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23 October 2021 My Pleasure ....

Prakash Nayak

Prakash Nayak (Querist)
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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)
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23 October 2021 Copy the address as per PAN...

Prakash Nayak

Prakash Nayak (Querist)
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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)
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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)
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23 October 2021 Thank you Sir, I learned so much from you. Once again Thank you .

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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23 October 2021 Most Welcome...

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