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Applicability of Section 44 ADA of income tax act 1961 and its benefits..

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(Querist)
11 October 2016 Sir i wanted to know is it fesible to opt for the presumtive income scheme u/s 44 ADA for a professional if the income is around 40L.. And if this is opted do i need to pay advance tax this year... TIA
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
11 October 2016 Yes you can opt for scheme u/s 44ADA. Advance tax payable in one installment on or before 15th March.
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ROHIT SHEKHAR

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ROHIT SHEKHAR (Querist)
11 October 2016 SIR is it fesible ?? or i should go for tax audit??
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
11 October 2016 It is feasible for you and no need of tax audit.
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ROHIT SHEKHAR

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ROHIT SHEKHAR (Querist)
11 October 2016 Thank you sir...
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