44ADA INCOME TAX ON PROFESSIONALS

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..... 44ADA INCOME TAX ON PROFESSIONALS
Query (Issue) Started By: - puneet virmani Dated:- 21-8-2019 Last Reply Date:- 28-6-2020 Income Tax
Got 1 Reply
Income Tax
IF A PROFESSIONAL BELOW 50 LAC .....

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..... S 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 .....

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..... ACCOUNT WITHOUT GETTING AUDIT UNDER 44AB. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: In my view no.
Discussion Forum - Knowledge Sharing .....

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