44AB and 44ADA under one PAN

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3 Points Posted on 15 September 2020
Can an assessee liable for tax audit u/s 44AB for his business claim the benefit of 44ADA in case of his profession?
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On 15 September 2020 at 10:21 Report
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This discussion clarifies whether an individual liable for a tax audit under Section 44AB for their business can also claim the benefits of Section 44ADA for their profession. The answer is a resounding yes. This means you can potentially utilise both sections under a single PAN, provided your professional income meets the criteria for 44ADA.

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CA Practice
184 Points Posted on 15 September 2020
Yes...
1 Reply
On 15 September 2020 at 11:50
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Tax and Business Consultant
11616 Points Posted on 15 September 2020
Yes, of course.....
1 Reply
On 15 September 2020 at 14:56
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3 Points Posted on 15 September 2020
Thankyou for the reply
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On 15 September 2020 at 19:03

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