44ada

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 April 2017 Dear Experts,

My client is a medical practitioner getting fixed monthly remuneration from a Hospital. TDS is being deducted by the hospital u/s 194J. Can he adopt Sec 44ADA for the AY 2017-18? . If yes which ITR to be used. Also advise whether my client required to maintain books of account?

Please advise

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 April 2017 Yes he can opt for 44ada and no need to maintain books of accounts provided the total income does not exceed 50 lacs. File ITR 4(old 4s).

Querist : Anonymous

Querist : Anonymous (Querist)

10 April 2017 Thank you very much Seetharaman Sir. One more query, I believe the presumptive income to be not less than 50% of the gross receipt for AY 2017-18. Please reply.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 April 2017 Yes you are right it should not be less than 50%.

Querist : Anonymous

Querist : Anonymous (Querist)

11 April 2017 Thank you very much Sir

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