it assess source of income two types 1.fees collections income 2.income from sales of medicines question: 1assess sec 44ada and sec 44ad both applicable in it act 2.assess it returns filed old or new scheme benefit.
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Quick Summary
This discussion clarifies tax applicability for businesses under Sections 44ADA and 44AD of the Income Tax Act. It explains how income from fees and medicine sales is assessed. Crucially, it confirms that individuals can benefit from both Sections 44ADA and 44AD, and can also choose between the old and new tax schemes to their advantage.