Benefit for old or new scheme

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B.com
3026 Points Posted on 10 November 2021
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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On 10 November 2021 at 18:22 Report
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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.

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CA
10436 Points Posted on 10 November 2021
Yes you can apply both 44ada and 44ad and you can also take benefit of old and new scheme
5 Reply
On 10 November 2021 at 21:08
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Chartered Accountant
24588 Points Posted on 11 November 2021
Yes you can take both the benefits
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On 11 November 2021 at 05:58

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