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
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Can section 44ad and 44ada be used together ?
Replies (5)
Yes... You can use the above section as per your Both T/O...
AY 17-18 *
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
Yes...
If you ll go to under presumptive scheme then no need Tax Audit.
If you can't opt presumptive scheme then you ll be go to Tax Audit...
Also you can file as per above details...
If you ll go to under presumptive scheme then no need Tax Audit.
If you can't opt presumptive scheme then you ll be go to Tax Audit...
Also you can file as per above details...
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!
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