Hi,
Income from Boutique is Taxable under Profession Section 44ADA is Applicable?
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Boutique Income under Profession
Replies (7)
I think yes, b.coz it is service
Boutique means what kind of business you will do??
if it is a trading in goods then 44AD will be applicable up to max turnover of 2crs.
even though if it is a service concern those services should be specified professional services covered under sec 44AA.
you can't simply apply 44ADA on all services.
if it is a trading in goods then 44AD will be applicable up to max turnover of 2crs.
even though if it is a service concern those services should be specified professional services covered under sec 44AA.
you can't simply apply 44ADA on all services.
Ok Sir, thanks
44ada would not apply to boutique
Boutique is sale of ladies garments so it will not fall under the definition of ‘Profession ‘ as per Income tax Act.
I think it is a business and 44AD can apply.
44ADA shall apply for the activities mentioned in sec 44AA. Income from Boutique is not covered in sec 44AA, so it shall be considered as business u/s 44AD.
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