IS 44ADA AVAILABLE

This discussion clarifies the availability of Section 44ADA for individuals with retainer fees and other income sources for the financial year 2020-21. It confirms that retainer income can be declared under Section 44ADA, allowing for ITR 4 filing with a presumptive income of 50%. The conversation also touches upon the possibility of switching to ITR 1 in subsequent years if retainer income ceases and briefly addresses whether professional qualifications are mandatory for claiming 44ADA.