Carpanter service comes under section 44AD or 44ADA??
previous 3 years return filed u/s 44ADA shall I continue or change???
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Carpanter is professional service or business
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Quick Summary
What is the turnover?
9 lacs around
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
As per notified Act the following professionals are considered to be Professional service rest business.
Though Income Tax Act has specially designated certain class of persons as specified professionals.
Though Income Tax Act has specially designated certain class of persons as specified professionals.
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