Will income from Prof fees (TDS deducted) shown U/s 44AD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2011
Dear Sir,
I have been issued a TDS Certificate from Prof fees; Can I file my return under the amended Section? If not, can I not say that I have been issued TDS certificate as prof fees,but have no prof qualification - therefore am just just running a business? What is definiton of "business" for this purpose? Is it not the intention of the amendment to help all self employed people having small businesses/professions?
Thank you
I have been issued a TDS Certificate from Prof fees; Can I file my return under the amended Section? If not, can I not say that I have been issued TDS certificate as prof fees,but have no prof qualification - therefore am just just running a business? What is definiton of "business" for this purpose? Is it not the intention of the amendment to help all self employed people having small businesses/professions?
Thank you
18 April 2011
Professional fees cannot come under Section 44AD logically because the rate of net profit is much higher in case of professional fees.
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