VISHAL JAIN (Student CA Final ) (67 Points)
17 August 2021
Deepa B
(Practicing Chartered Accountant )
(573 Points)
Replied 17 August 2021
Kindly change because only the below mentioned professionals can opt for 44ADA. Carpentry needs to be considered as business and accordingly 44AD can be opted subject to the condition that the turnover is within the limit, prescribed for presumptive taxation.
Professions covered u/s 44AA (1) of the Income Tax Act, 1961:-
1. Legal
2. Medical,
3. Engineering
4. Architecture
5. Accountancy
6. Technical consultancy
7. Interior decoration
8. Other notified professionals:-
a) Authorized representatives
b) Film Artists
c) Certain sports related persons
d) Company Secretaries and
e) Information technology
sabyasachi mukherjee
(26219 Points)
Replied 17 August 2021
CAclubindia
