Question ID :
37995
Applicability of 44AD for 194J tds dedcution
If an assessee provides a service and his customer deducts the tds under section 194J, is this means the assessee need to show his income under section 44ADA? The Assessee is not a profession as defined by the act. Even does not possess a college ug degree.
Posted by
M ASHOK
on
Feb 22, 2019
Filed Under
DIRECT TAXES
Section under which TDS has been deducted cannot decide whether to report in 44AD or 44ADA. This can be decided on the basis of List of professions notified u/s 44AA read with rule 6F. Also, nature of transaction shall prevail over possessing a degree.
Posted by
Ashish Kumar Goyal on
Mar 02, 2019
Answer ID :
76389
Not at all. one have to have the prescribed professional qualification in rule 6F of the Income Tax Rules,1962 for claiming benefits under section 44ADA of the Income Tax Act,1961.
Posted by
CA. JHA SHANKAR KUMAR on
Mar 20, 2019