About applicability of 44AD.
P.SANTOSH KUMAR (ARTICALSHIP) (1 Points)
12 December 2019P.SANTOSH KUMAR (ARTICALSHIP) (1 Points)
12 December 2019
RAJA P M
("Do the Right Thing...!!!")
(127167 Points)
Replied 12 December 2019
Kapadia Pravin
(17249 Points)
Replied 12 December 2019
sanjith kotni
(Articled assistant)
(663 Points)
Replied 12 December 2019
Sagar Devani
(Corporate and International Taxation)
(1174 Points)
Replied 12 December 2019
Section for 44AD is applicable only for traders and not for service providers.
However, if service provider is professional then Sec 44ADA of the Income Tax Act, 1961 is applicable based on Turnover and other conditions,
sanjith kotni
(Articled assistant)
(663 Points)
Replied 12 December 2019
Kapadia Pravin
(17249 Points)
Replied 12 December 2019
Mr. Sagar, 44AD is very much applicable to all service providers. Please re-check section 44AD provisions.
Commission agents, brokers, and few other specified activities are not covered under section 44AD. Professionals (only specified) are eligible under 44ADA.
Shivam RC
(Student)
(23683 Points)
Replied 14 December 2019
Kapadia Pravin
(17249 Points)
Replied 15 December 2019
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