Section 44ADA of IT ACT (Professional Income )
This query is : Resolved
09 July 2020
Sir,
If a person adopts resumptive taxation scheme under section 44ADA (Professional income ) but he opts out of this scheme in any subsequent five years as he is no more having professional income OR he has left profession ,then what are consequesces.
Is there is no requirement to meet up with continuity of 5 years in case of presumptive professional income u/s 44ADA as is applicable and required in case of presumptive business income u/s 44AD.
Pls guide.
If a person adopts resumptive taxation scheme under section 44ADA (Professional income ) but he opts out of this scheme in any subsequent five years as he is no more having professional income OR he has left profession ,then what are consequesces.
Is there is no requirement to meet up with continuity of 5 years in case of presumptive professional income u/s 44ADA as is applicable and required in case of presumptive business income u/s 44AD.
Pls guide.
09 July 2020
Five years requirement etc is not applicable for 44ADA.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Transporter Declaration form
- Copyright software
- Regarding TDS Applicability For Director Remuneration
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
