Sir,
Is "Business and Consultancy " income under ITR code 16013 eligible for 50% deduction under sec 44ADA?
Also, Is Director's commission to an Independent director eligible for deduction under sec 44ADA?
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ITR code 16013 eligibility under sec 44ADA
Replies (6)
Quick Summary
Does your income fall under 16013
@ Mr Ravichandran Srinivasan,
I think No.
Bcoz, the said code is under the category of PROFESSION.
So, Ask Your query with Your actual business nature.
I think No.
Bcoz, the said code is under the category of PROFESSION.
So, Ask Your query with Your actual business nature.
Sir,
The "Profession" or actual business nature is consultancy to corporates on all aspects of business
| Originally posted by : Ravichandran Srinivasan | ||
 |
Sir, The "Profession" or actual business nature is consultancy to corporates on all aspects of business |
 |
Sir.,
The word "CONSULTANCY" is common word. It's can't take into specific activity.
So, As per code and it's category is under the nature of PROFESSION.
Otherwise post Your actual business/profession.
ITR code 16013 is "Business and Management consultancy"
I also would like to know if Commission paid to Independent directors is to be treated as Salary or Professional income
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