Professions under 44ada?

Tax queries 2450 views 4 replies

Sandeep

Self Employed

125 Points Joined November 2008

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

Replies (4)

Guest

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

Anonymous

Student

111 Points Joined July 2013

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

Devendra Lingojwar

Biotech Consultant

22 Points Joined 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?