Section 44ada for professional
This query is : Resolved
27 June 2017
If a professional's receipts are 1Cr, (all digital) can he be still eligible for presumptive tax scheme - so that he pays tax on assumed profit of 50% i.e. 50Lac. Does he need to maintain expenses/bills etc? Does he need to get the bills/account audited?
Amol S Joglekar
(Expert)
27 June 2017
Do you have any specific circular/notification stating that 44ADA limit is 1 crore? Please let me know
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