Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

MBA working as a Consultant - Applicability of 50% Presumptive taxation under Sec 44ADA

810 views

Save Share

Join Us Follow Us Add as Source

Sudha Iyengar

Actuary - Self Employed

27 Points Posted on 30 January 2022

Hello,

My husband has recently joined an NBFC finance company as a Consultant. He is an MBA and his services are related to Trade Finance and Business Management Consultancy. He has 25+ years of experience in his field.

I have two questions:-

Can his profession be classified as a 'Technical Consultancy' under Sec 44 AA (1)?
Is he allowed to take benefit of 50% Presumptive taxation under Sec 44ADA (Code-16013)?

Regards

Replies (3)

Quick Summary

This discussion clarifies the applicability of presumptive taxation under Section 44ADA for an MBA working as a consultant in trade finance and business management. The consensus is that such a profession can be classified as 'Technical Consultancy' and is eligible for the 50% presumptive tax benefit.