Eligibility of 44ADA if Turnover in Previous FY is 1 crore and Present FY is under 75L

Tax queries 327 views 4 replies
User Avatar

Individual
56 Points Joined June 2023

If a professional earned 1 crore in the previous FY and is earning less than 75L in the present FY, can he opt for 44ADA?

I heard that if turnover exceeds 1 crore in the previous FY, then he cannot opt for 44ADA in the present FY even when his gross receipts are under the 75L limit. Hence the confusion

0 Reply Share Follow
On 12 June 2024 at 08:30 Report
Replies (4)
User Avatar

4156 Points Joined July 2023
As under the section 44ADA the limits are for Current year only there is no mention about the previous turn over hence you can opt if it is within the purview of 44ADA( 75 Lakhs turnover limit is subject to minimum 95% digital payments)
4 Reply
On 12 June 2024 at 09:05
User Avatar

Individual
56 Points Joined June 2023

Thanks for clarification, Khush.

Reply
On 12 June 2024 at 10:10
User Avatar

Profession Business
28196 Points Joined May 2017
Put your issue correctly
Reply
On 12 June 2024 at 10:26
User Avatar

4156 Points Joined July 2023
@ sabyasachi plz reply correctly
1 Reply
On 12 June 2024 at 10:38

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details