44ADA
This query is : Resolved
19 November 2020
Dear All,
A doctor has 9 Lakh Rupees business income and is showing income above the limit of 50% specified under 44ADA.
But for his personal purpose, he is maintaining books of accounts. He is showing a profit of Rs 6 lakhs which is above the minimum profit of Rs 4.5 Lakhs and hence is getting taxed more.
My query is, is It is a prudent practise to pay more tax ??
A doctor has 9 Lakh Rupees business income and is showing income above the limit of 50% specified under 44ADA.
But for his personal purpose, he is maintaining books of accounts. He is showing a profit of Rs 6 lakhs which is above the minimum profit of Rs 4.5 Lakhs and hence is getting taxed more.
My query is, is It is a prudent practise to pay more tax ??
19 November 2020
Yes, It is a prudent practice to pay more tax based on actual income.
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