Please tell me one of my client is doing business of photography in parties and functions like marriage, birthday, inauguration etc
so my question is i will take his income in 44AD or 44ADA
Thanks Dr. Ajay Jajodia
Replies (8)
Quick Summary
This discussion clarifies how to declare income for a photography business focusing on events like weddings and parties. It explains that while photography is a profession, it's not typically considered a 'specified profession' for Section 44ADA. Therefore, photographers usually cannot opt for the presumptive income scheme under 44ADA. Similarly, Section 44AD, which applies to businesses, might not be directly applicable as photography is often classified as a profession. The consensus suggests filing under ITR 3, potentially requiring a Profit and Loss statement, and the 8% presumptive profit for businesses may not apply.
How 44AD will be applicable it's not a business right??, it comes under profession but it is not a specified profession to apply 44ADA also. hence he should file ITR 3.
Now the answer to your question, if you do mostly wedding photography(taking just an example), you are not doing any profession related to films.. and hence you dont need to show your income under 44ADA and pay taxes on 50% of your total receipts
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