Is photography covered under 44ADA?

No photography related with film only considered as specified profession under section 44 ADA. Normal photography is not a specified profession. Sir I repeat you can show photography income as Income from profession. Can opt 44 AD by declaring 8\% or more of gross receipts.

Can professional income be shown under 44AD?

Section 44AD applies to all businesses except the business of plying, hiring or leasing goods. As Section 44AD specifically mentions the word business, therefore section cannot be applied in case of professionals. Section 44AD only applies in case of Individuals, Partnership & HUF provided they are Resident in India.

Who is not eligible for 44ADA?

The presumptive taxation scheme of section 44AD can be opted by the eligible persons, if the total turnover or gross receipts from the business do not exceed Rs. 2,00,00,000. In other words, if the total turnover or gross receipt of the business exceeds Rs. 2,00,00,000 then the scheme of section 44AD cannot be adopted.

Can contractors file under 44AD?

Yes, a labour contractor can opt for section 44AD and declare income to be 6\%/8\% or more as the case may be. There is no restriction on the same.

What is the difference between 44AD and 44ADA?

The scheme of section 44AD is designed to give relief to small taxpayers engaged in any business, except the following businesses: > Business of plying, hiring or leasing of goods carriages referred to in section 44AE….Meaning of presumptive taxation scheme.

Particulars	Amount
Taxable Business Income	XXXXX

What is 44AD 44ADA and 44AE?

Presumptive taxation scheme of section 44AD is applicable in case of business. Presumptive taxation scheme of section 44ADA is applicable in case of profession. Presumptive taxation scheme of section 44AE is applicable in case of business of plying, hiring or leasing of goods carriage.

Can we switch from 44AD to 44ADA?

Yes, you use both the section simultaneously. However, you satisfied all the condition mention u/s 44AD & 44ADA.

What is sections 44AD 44ADA or 44AE?

What is 44AD 44ADA or 44AE?

What is income under section 44AD?

In case of a person adopting the provisions of section 44ADA, income will be computed on a presumptive basis, i.e. @ 50\% of the total gross receipts of the profession. In other words, total gross receipts from profession should not exceed Rs 50 lakh for a financial year.

Is photography considered as a profession under Section 44 Ada?

No photography related with film only considered as specified profession under section 44 ADA. Normal photography is not a specified profession. Sir I repeat you can show photography income as Income from profession.Can opt 44 AD by declaring 8\% or more of gross receipts.

What is the presumptive amount of income under section 44ADA?

In case of a person adopting the provisions of section 44ADA, income will be computed on presumptive basis, i.e. @ 50\% of the total gross receipts of the profession. However such person can declare income higher than 50\%.

What is Section 44AD of Income Tax Act?

This is similar to the provision given in Section 44AD. This means if the assessee is ready to declare 50\% of his gross receipts or a higher sum as profits and gains of his profession, he is relieved from the duty of maintaining books of accounts and also from tax audit as per the Income Tax Act.

Can a registered professional under section 44aa apply for Section 44AD?

– If the business turnover crosses 2 crores, then Section 44AD cannot be applied. As concluded above, a registered professional under Section 44AA, filing ITR under Section 44ADA is not eligible to avail benefits under Section 44AD. Never opted for Presumptive Taxation Scheme?