Section 44ADA

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Tina Jain (Querist)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 November 2016 No audit in view of declaration of 55% profit.

Tina Jain

Tina Jain (Querist)
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17 November 2016 sir in case of declaration of 55% profit of gross receipts one can file under itr 4 without getting books audited.

Tina Jain

Tina Jain (Querist)
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17 November 2016 and without opting presumptive taxation scheme

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 November 2016 Yes but the gross receipts not to exceed 50 lacs. Books of ac has to be maintained.

Tina Jain

Tina Jain (Querist)
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17 November 2016 ok sir thankyou

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