Section 44ADA
This query is : Open
17 November 2016
how this section works if a professional does not opt for this scheme and show his profit as 55 % of gross receipts in itr , whether he will be required to get his books audited.
17 November 2016
No audit in view of declaration of 55% profit.
17 November 2016
sir in case of declaration of 55% profit of gross receipts one can file under itr 4 without getting books audited.
17 November 2016
and without opting presumptive taxation scheme
17 November 2016
Yes but the gross receipts not to exceed 50 lacs. Books of ac has to be maintained.
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