This querry has come up from the side of my colleague. We both are medical professionals and I to is very interested in the answer.
I file using 44 ADA. I receive most payments through the TDS code 194J. Some of them were strictly not related to professional work. But heeding to the advice of my CA, I used to use 44 ADA for everything. His reasoning was the payment is coming to me from a company using the 194J code meant for professional services and hence 44ADA is better.
Last year on-wards i received payments with the 194Jb code...again meant for professional services-those were thus not a confusion. But a few payments came via the 194JA code.....this is specifically meant for technical services other than professional services...its specifically meant for services which do not fall under the category "professional services".
Question is this...can we opt not to include these under 44 ADA and pay tax under another head "other income"???
If so-it will work out better for yes both in short term and long term .(short term purpose: is that 50 lakh limit will not be breached...we can still use 44 ADA)
CAclubindia
