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44ADA INCOME TAX ON PROFESSIONALS, Income Tax

Issue Id: - 115346
Dated: 21-8-2019
By:- puneet virmani
44ADA INCOME TAX ON PROFESSIONALS

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IF A PROFESSIONAL BELOW 50 LACS DON'T WANT TO FILE UNDER 44ADA AND TAKE 50% AS TAXABLE INCOME , CAN HE / SHE FILE UNDER NORMAL BUSINESS @SAY 20% NET INCOME OF RECEIPTS (PROFIT APPROX) - ON ACTUALS AS PER INCOME AND EXPENDITURE ACCOUNT WITHOUT GETTING AUDIT UNDER 44AB.

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1 Dated: 28-6-2020
By:- DR.MARIAPPAN GOVINDARAJAN

In my view no.


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