Hello Sir/Madam,
I have a professional income from Consulting services of about 45 Lakhs p.a.
In addition, I also have a side business where I have my own websites. I am selling ad spaces which give me income of about 60 Lakhs p.a.
Is it possible to use both Section 44ADA and 44AD together in the same IT Return ?
Or, is it advisable to start a new partnership firm to keep both accounts separate ?
Your expert advice would be highly appreciated.
Regards
Many thanks for your reply sir!
The total income will be 45 Lakhs + 60 Lakhs in the same ITR.
Is it possible to use both section 44AD and 44ADA in the same ITR for Individual proprietorship ?
Thanks & Regards
Thank you sir. We'll maintain our accounts as a part of the same proprietorship in that case.
Thanks a lot for your inputs, Raja sir.
Regards!
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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CAclubindia
