Carpanter service comes under section 44AD or 44ADA??
previous 3 years return filed u/s 44ADA shall I continue or change???
Menu
Carpanter is professional service or business
Replies (4)
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.
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
