Can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of section 44AD?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sked Questions (FAQs) - Income Tax - Manuals - Ans. A person who is engaged in any profession as prescribed under section 44AA (1)​ cannot adopt the presumptive taxation scheme of section 4 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... of the total gross receipt of such year then the threshold limit for total gross receipt shall be taken as Rs. 75 lakhs instead of Rs. 50 lakhs. The receipts through the mode of cheque or a bank draf .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X