New business codes

Efiling 12826 views 198 replies
Originally posted by : SMSES India
So in your opinion if my client has a business involving Server Leasing, Server Maintenance then would you say, my client is a professional and cannot opt for 44AD?

No, I do not mean that. Technically, you may be correct & there are so many assessees who are doing businesses related to such professional activities like nursing homes, tuition classes etc etc..... who all are actually in business and not profession, but are unable to adopt sec. 44AD. That is what I said earlier that ICAI has taken up the issue with ITD, but till it is sorted out, we are stuck up.

Replies (198)
Originally posted by : SMSES India
So in your opinion if my client has a business involving Server Leasing, Server Maintenance then would you say, my client is a professional and cannot opt for 44AD?

No, I do not mean that. Technically, you may be correct & there are so many assessees who are doing businesses related to such professional activities like nursing homes, tuition classes etc etc..... who all are actually in business and not profession, but are unable to adopt sec. 44AD. That is what I said earlier that ICAI has taken up the issue with ITD, but till it is sorted out, we are stuck up.

Which itr is applicable for engine bore working..

Its service, and hence ITR 3 is suitable to declare the income u/h. PGBP.

HELLO SIR,  due to some changes in itr-1, - 

i) salary income from courier company by bank. =163500

ii) ifos , part time job (labour work)= 85500

is it enough to  mention (part time job (labour work) in descripttion if any other selected?

please suggest


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