Section 44ada of the it act
This query is : Resolved
Abhishek Roy Choudhury
(Querist)
23 April 2017
Dear Sir,
Section 44 ADA which has been inserted from A.Y. 2017-18. In this section if a Doctor whose income from Profession and salary is Rs. 25.00 Lacs and net profit is 50% after deduction of expenses say travelling, tea and tiffin, depreciation on motor car etc. So can he avail the benefit of Sec 44 ADA and file ITR 4 (Sugam) for A.Y. 2017-18 and whether he is not required to maintain books of accounts.
Thanks,
Abhishek.
Section 44 ADA which has been inserted from A.Y. 2017-18. In this section if a Doctor whose income from Profession and salary is Rs. 25.00 Lacs and net profit is 50% after deduction of expenses say travelling, tea and tiffin, depreciation on motor car etc. So can he avail the benefit of Sec 44 ADA and file ITR 4 (Sugam) for A.Y. 2017-18 and whether he is not required to maintain books of accounts.
Thanks,
Abhishek.
24 April 2017
Yes a doctor can show his income u/s 44ADA if his total receipts from profession does not exceed Rs 50 Lacs and minimum net profit shown is 50%.
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