1)i have photography business. Total receipt Rs. 600000 for 2018-19, can i opt 44ad if i show income 400000.
2) i also paid rent 7000 pm and have no own house. can i claim deduction 80GG.
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44AD please reply very urgent
Replies (3)
1. Section 44 AD applicability is based on Turnover. If Turnover less than Rs 2 Crores in a financial year, you can opt presumptive taxation under section 44AD.
2. if you are not getting HRA benefit, you can claim max Rs 5000 pm as deduction under section 80GG.
I hope this is helpful for you.
2. if you are not getting HRA benefit, you can claim max Rs 5000 pm as deduction under section 80GG.
I hope this is helpful for you.
i am professional photographer, should i opt 44ad or 44ada
Photographer is not expressly covered under section 44ADA. As per my opinion, to be covered under section section 44AD.
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