In the Clarifications given by Income Tax Department regarding Tax on Presumptive basis, following are mentioned
at link https://www.incometaxindia.gov.in/tutorials/13.%20tax%20on%20presumptive%20basis%20in%20case%20of%20certain%20eligible%20businesses.pdf
One
A person who is engaged in any profession as prescribed under section 44AA(1) cannot adopt
the presumptive taxation scheme of section 44AD.
As per Section 44(1)mentioned at one above, such professions are legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette
Two
:The presumptive taxation scheme of section 44ADA is designed to give relief to small taxpayers
engaged in specified profession.
Three
A person resident in India engaged in following professions can take advantage of presumptive
taxation scheme of section 44ADA:-
1) Legal
2) Medical
3) Engineering or architectural
4) Accountancy
5) Technical consultancy
6) Interior decoration
7) Any other profession as notified by CBDT
NOW THESE PROFESSIONS ARE SAME AS MENTIONED IN SECTION 44(1)
SO KINDLY CLARIFY AS TO WHY iNCOME tAX dEPARTMENT has said, as mentioned in one above that
"A person who is engaged in any profession as prescribed under section 44AA(1) cannot adopt the presumptive taxation scheme of section 44AD".
HERE REFERENCE OF SECTION 44AD IS GIVEN FOR PROFESSION WHEREAS FOR PROFESSION SECTION 44ADA HAS BEEN ADDED.
PLEASE CLARIFY
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