section 44ad where multiple business or profession exists

Dear Abhishek , section 44 AD is only applicable to business and not on professional services , but wait for experts comments.

Dear Abhishek

Presumptive taxation scheme under section 44AD would be applicable only for business and not for profession.

Hence, u have to apply 44AD only for business income and not for professional income. Since ur business income is lower than 8% of the gross receipts of ur business, u have to get ur accounts audited by chartered accountant us 44AB if u want to claim net profit below the presumptive profit us 44AD. 

As per my view, insurance agency and post office agency is not at all profession as it doesnt satisfy defination of profession specified us 2.

Hope this solves ur query.

Thanks and Regards,

Manoj B Gavali

Thanks and Regards

PLs click on the follwing link to get detailed analysis on Sec44AD.

/forum/sec-44ad-not-cover-to-profession-156631.asp