Sec 44ada or sec 44ab applicable f.y.23-24


This query is : Resolved 

Quick Summary
This discussion clarifies whether Section 44ADA or 44AB of the Income Tax Act applies to fee collection income for the financial year 2023-24. With the Section 44ADA limit increased to ₹75 lakhs, provided cash receipts are below 5% of total receipts, this guidance helps determine the correct tax audit provision for your income.

25 June 2024 Sir,
It assessess fees collection income rs:60 lacs f.y.22-23 tax audit itr filed.fees collection income rs:55 lacs f.y.23-24 .sec 44ada provision increased f.y.23-24
Question:
Assessess itr filed sec 44ada or 44ab provision applicable f.y.23-24

25 June 2024 Limit for Sec. 44ADA IT act, has been increased to 75 lakhs, provided cash receipts are less then 5% of the total receipts.

29 August 2024 Good Luck.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details