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For Advocate Presumptive ITR4 under 44ADA IS IT CORRECT AND IS PARTICULAR OF E11 TO E25 COMPULSORY TO FILL FOR PROFESSIONAL PLEASE LET ME KNOW
Replies (3)
No...

You can fill only Sundry Creditor, Sunday Debtor, Cash and Inventory details. These these details is mandatory even if 0.
For Advocate Presumptive ITR4 under 44ADA IS IT CORRECT
yes....



Section 44ADA: Presumptive Taxation @ 50% for Professionals

The benefit of Presumptive Taxation which was earlier available only to specified businesses has now been extended to Professionals. Professionals whose Total Gross Receipts do not exceed more than Rs. 50 Lakhs in a financial year can claim benefit of this Section from Financial Year 2016-17 onwards.

The Income of any person making use of this Section would be assumed to be 50% of the Total Gross Receipts for the year. The following are considered as professionals who can make use of this Section:-

Legal

Medical

Engineering
Architectural Profession
Profession of Accountancy
Technical Consultancy
Interior Decoration


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