Professions under 44ada?

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Self Employed
76 Points Posted on 31 March 2017

Will the following people be covered under presumptive tax under section 44AD (8%) or 44ADA (50%) provided they have income under Rs.50L? These are not explicitly specified as professions. Can they be considered as "technical consultancy"?

1. Freelance management consultant

2. Freelance recruitment person

2. Freelance english content editor

3. Freelance marketing person

Any clarifications in this regards would be welcome.

Regards

Sandeep

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On 31 March 2017 at 18:51 Report
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Posted on 31 March 2017

44 ADA APPLICABLE 

LEGAL 

MEDICAL

ENGINEERING

ACCOUNTANING PROFESSIONAL

TECHNICAL CONSULTANCY

INTERIOR DECORATION

ARCHITECTURAL PROFESSIONAL

IN YOUR CASE  USE USE ITR 4 FOR RETURN

MAINTAIN YOUR ACCOUNTS  

 

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On 31 March 2017 at 19:54
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Student
55 Points Posted on 31 March 2017
section 44ADA Presumptive taxation on Profession will be applicable. The above mentioned are not Businesses hence Section 4AD Presumptive taxation on Business not applicable. In section 44ADA there is no explicit definition of services..so these can be taxable under section 44ADA
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On 31 March 2017 at 19:58
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Biotech Consultant
22 Points Posted on 03 September 2019
My Educational qualifications are M.Sc. in Biotechnology and Ph.D. in Biochemistry. My career is in research in life sciences and Biotechnology. I provide consulting services to various levels from students to faculties and private companies to Educational institutions. Under section 44ADA, can I opt for presumptive taxation as a "technical consultancy" as my services are based on applied science?
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On 03 September 2019 at 18:14
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None
86 Points Posted on 03 September 2019

Yes, you can opt for sec. 44ADA of IT act.

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On 03 September 2019 at 20:35

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