44ae
This query is : Resolved
01 August 2019
whether section 44ADA is optional or mandatory for specified professional , so if one who dont want to opt 44ADA , in this case no question of 50% profit, in that case that person can show profit under normal business, simply by making profit loss account , and books if GR is 150000 is preceeding 3 f.y??
plz guide
plz guide
01 August 2019
Section 44ADA is optional. If less than 50% profit is declared tax audit applicable.
02 August 2019
thanks sir, but if some one not opted for 44ADA and GR in less than 50 lakh , than in that case can we show income as per profit and loss account ?
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