i know that professionals are not eligible to opt section 44AD presumtive taxation and file ITR-4S instread of ITR-4.
i need clarification whether following incomes/clients are eligible to opt for sec 44AD assuming that their turnover is less than the limit for tax audit.
1. lic agent ( commission income so cannot opt for 44AD)
2. civil contractor with material ( can opt)
3. civil contractor (only labour)( can opt)
4. estate agents ( no commission income)
5. tax consultants ( bcoz , its a consulting charges )
6. beauty parlour ( yes)
7. interior decorator (no fin act 2011)
8. accounting charges received
whether i am correct or not ?
Menu
44ad
Replies (2)
You are more or less correct. With regards to accounting charges, it shall depend on the receiver. A CA receiving accounting charges won't be eligible for 44AD. but a B.com may be. the same shall be true for tax consultants too.
Agree wid mr. Nikhil
Recent Topic
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
Related Topics
CAclubindia
