Presumptive Tax for professsionals
This query is : Open
22 July 2021
hi
my relative is an engineer and he has salary income of 30 lakhs Rs and professional receipts of 30 lakhs also
can he take benefit of presumptive tax of 44ad or the limit of 50 lakhs is applicable on total of salary plus professional income i.e. 60 lakhs Rs here and hence presumptive tax benefit cant be taken
my relative is an engineer and he has salary income of 30 lakhs Rs and professional receipts of 30 lakhs also
can he take benefit of presumptive tax of 44ad or the limit of 50 lakhs is applicable on total of salary plus professional income i.e. 60 lakhs Rs here and hence presumptive tax benefit cant be taken
22 July 2021
The limit is exclusive of salary. 44ADA can be opted.
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23 July 2021
Sec 44ADA not applicable on salary income.
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