Sec 44ad

Sec 44AD (6) provides that the provisions of Sec 44AD are not applicable to a person carrying on profession as referred to in sub-section (1) of section 44AA;

By implication does it mean that sec 44AD is applicable to other professions/ vocations/ occupations that are not referred to in sub-section (1) of section 44AA ?

In other words, persons engaged in any other trade or vocation or occupation (except those specified under sec 44AA(1), can choose to take benefit of sec 44AD.

Request members' opinion, with reason, on above.

Replies (2)

Yes

with best of my knowledge it will apply to other profession which are not reffered in the section 44AA (1).

the reason being is:

according to section 44AD (6) the provisions of this section, notwithstanding anything contained in the foregoing provisions,shall not apply to

(i) a person carrying on profession as reffered to in subsection (1)  of section 44AA.

and in section 44AA (1) they have named only some proffesion and also they  have noted any notified profession.

there fore if any other profession which comes beyond the orbit of section 44AA (1) may claim presumptive income.

 

May I have the benefit of some other learned members' views in this respect? Any more comments, members may like to contribute?

 

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