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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Sale of Equity shares for Purchase of Residential Property
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- GST Reverse
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Gstr7 vs Gstr3b 2026
- Gst return - cess
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
