Section 44ada
This query is : Resolved
brij bhushan gupta
(Querist)
13 March 2016
sir i am doctor running a nurshing home if i opt section 44ADA and i have recipt rs 30 lacs and expenses are 10lacs then how i compute income tax and on what amount
Amol S Joglekar
(Expert)
13 March 2016
You can opt for presumptive taxation. Since you have 30 lakh as receipts, you can opt for presumptive taxation. Once you opt for presumptive taxation, you need to disclose your profit % which should be 50 or more.
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