Applicability of presumptive tax

Dear Sir,

Section 44ADA deals with specified profession. You can take the benefit u/s 44AD i.e. Total income will be taxable @6% or 8% or both.

Thanks

Threshold limit for GST registration and liability is Rs.20 lacs.

The threshold limit of GST in entire country except North Eastern states is 20 Lakhs. Yes, you can get GST credit subject to cenvat credit provision

If security consultant job is after gaining professional skills, then it will be eligible for 44ADA. Otherwise not

Hi,

Yes you can avail the benefit of Sec 44ADA .

GST will not be applicable to you if your turnover is less than 20 lakhs

Regards,

Nikhil

Hii

Following works covered under 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

your work of Security consultant not specifically mentioned in above list, thus please prepare books of accounts and file your return accordingly.

up to 20 Laksh receipts no GST applicable but if you got registered your self under GST then you have to follow all compliance

Hi

As far as GST is concerned, it won't be applicable till your total receipts exceed Rs. 20 lacs.

For 44ADA, security consultancy doesn't qualify for the professions specified in the section. Hence, you cannot claim the benefit.

As per my view u cannot take the benefit of 44ada.And as far as GST is concerned,u are below threshold limit of Rd 20 lacs so its not mandatory to get registered.

Hi,

In my opinion, you can avail benefit of section 44ADA.

Further, GST is not applicable upto INR 20 lacs in your case.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com