TUTION INCOME IS SERVICE TYPE WHETHER IT UNDER THE 44 AD OR NOT
3 Replies
Mahesh Paryani
(Chartered Accountant)
(365 Points)
Replied 15 December 2011
Analysis of section 44AD (Please note that the analysis mentioned below is a personla analysis of the said section)
1) The word Businesses is mentioned in the section which has a wide meaning and considering this the term includes services also
2) the word gross turnover and the word gross receipts is included in the section which clearly directs that it include services also
considering the above two factors we can safely conclude that section 44AD includes services also
Regards
chandrika
(CA Final student)
(107 Points)
Replied 16 December 2011
it will apply to any business other than business of plying,hiring or lesing goods carriages.
here services are not excluded, so that they can taxable under44AD.
CA Hardik Bunha
(self)
(2121 Points)
Replied 16 December 2011
section 44 AD NOT APPLICABLE for tuition income.
as section 44 ad - not applicable to professionals.
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