Can a individual claim 44ADA benefits as individual as well as income through partnership which files under 44ADA schema ?
For Eg.
Mr. X is a architect and has 48 Lacs as income and files under 44 ADA. If same Mr. X is also a partner in a XYZ partnership firm with Mr. Y and files the taxes for partnership firm through 44ADA scheme and the profit for Mr. X is 20 Lacs then can Mr.X claim 48 Lacs as individual and 20 Lacs through Partnership ? or will he disqualify from filing under 44ADA as the "combined" income for a individual crosses 50 Lacs ?
Just to add more complexity - Can these 2 entities (indirectly same person) do business with same client ?
CAclubindia
