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Sec 44ag

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(Querist)
07 February 2016 Sir,in case of the proposed section of presumptive income for professionals,why has the gross receipts limit in the section kept 1 crore though the audit applicability is 25lakhs?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 February 2016 44AD is not applicable to professionals...
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Ameya

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Ameya (Querist)
08 February 2016 Sir,I'm speaking about the proposed sec 44AG likely to be introduced from 1 April 2017
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
08 February 2016 well the proposal is for Rs 25 lakhs only...it seems where the definition of eligible profession has been given an error has creeped in from copying the 44AD proposals!
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Ameya

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Ameya (Querist)
08 February 2016 Ya Sir,Thank you...
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