Hi,
I am a mechanical engineer by education but I have service tax registration for civil contracts. Will I be eligible for presumptive taxation (44AD)? Or will I be considered as a prefessional (BE) hence not eligible, even though I am carrying out civil contracts? Please note that I am not a Civil Engineer and hence the confusion.
Thanks in advance.
You are eligible for presumptive basis of tax calculation if your turnover is less than Rs. 1 Crore.
Thank you Vinod. What is the basis for your answer? Is there a section or any case/judgement that you can point as a reference?
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