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Two Professions

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Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

If a person have two professions,

Can he avail 44ADA two professions separately ?

Replies (9)

Quick Summary

This discussion explores the applicability of Section 44ADA for individuals with multiple professions. While it's common to have more than one business or profession, the total income from all sources must be considered for presumptive taxation under 44ADA, rather than applying it separately to each profession. If the combined turnover exceeds the limits, presumptive taxation may not be an option.

sabyasachi mukherjee

Profession

19978 Points Posted on 27 March 2022

Section 44ADA APLICABILITY:
One cannot have two professions simultaneously.

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Due partnership allowed between different professionals, more than one profession and more than one business is very much possible..

Only thing is whether 44ADA is applicable profession wise or in total based on turnover ?

CA Surya Sekar

CFO

486 Points Posted on 27 March 2022

But you can't avail 44ADA for each profession.

Turnover in total shall be considered.

However separate option is eligible for 44AD and 44ADA if the turnover falls within the limit

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Can the business & profession both are allowed ?

sabyasachi mukherjee

Profession

19978 Points Posted on 27 March 2022

Read Sec 44ADA .

Eswar Reddy S

CFO- at NHTF

15022 Points Posted on 27 March 2022

Is business related Section 44ADA ?

JJJ

Need help

436 Points Posted on 27 March 2022

It's definitely possible - and common - to have more than one business / profession / house / dog / job!

But when it comes to taxes, unfortunately, the income needs to be combined.

I presume you are looking at someone who has over 25 lakh income from each of the two professions? If so then both need to be added and that will probably mean no presumptive at all.

I can't reference a rule (almost definitely no such rule exists) but there seems to be no such option in the returns.