Income from Boutique is Taxable under Profession Section 44ADA is Applicable?
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Quick Summary
This discussion clarifies whether income from a boutique is taxable under Section 44ADA (presumptive taxation for professions) or Section 44AD (presumptive taxation for businesses). It is concluded that a boutique, primarily involved in selling garments, is considered a business rather than a profession. Therefore, Section 44AD is likely applicable, not Section 44ADA, as the services offered by a boutique are not typically listed under the specified professional services in Section 44AA of the Income Tax Act.
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.
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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