The Income Tax Appellate Tribunal (ITAT), Cuttack bench has held that in order to apply the provisions of section 44AD of the Income Tax Act, 1961, there is no requirement that the proprietor of the institution should possess a qualified professional degree. The assessee was engaged in the medical profession and running a nursing home. […]
The post Proprietor of Institution need not possess a Qualified Professional Degree for applying Provisions of S. 44AD: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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