Section 44AA/44AD/44ADA

[Guest]

My job is to examine the Master Plan of cities & identify areas having the potential to be developed commercially or for a residential colony & help the Principal to acquire (procure) it for which I get retainership fee.I am not an Advocate but my long stint in the Govt. service has given me this expertise.My vocation(profession) is not covered by the professions under Sec.44AA(1) & my income from Profession does not exceed ₹ 120000/- & the total Gross income from Profession does not exceed ₹ 1000000/- as stipulated in Sec.44AA(2) As such I presume that I am not required to maintain accounts & am not covered by the provisions of Sec.44AD or 44ADA.

Please confirm whether I am right in my presumption.

AI Summary

Presumptive taxation applicability: whether retainership fees fall outside prescribed maintenance and presumptive regimes, seeking confirmation Taxpayer advising on master plans receives retainership fees, is not an advocate, considers his vocation outside the professions listed under Section 44AA(1), states his professional receipts fall below the threshold in Section 44AA(2) and his gross professional income is under the cited limit, and therefore presumes he need not maintain books and is not covered by Sections 44AD or 44ADA, seeking confirmation.