Menu
is TD deducted u/s 194J use as income from profession.
Yes, it can be declared u/s. 44ADA as 50% of gross receipts.
1. According to sec 44ADA, any person who is engaged in eligible business specified u/s 44AA can avail the presumptive taxation scheme u/s 44ADA.
2. Sec 44ADA is a self-contained provision and it does not interfere with other provisions such as salary income, Capital gains and Income from other sources.
3. So a person can avail the above scheme relating to his profession irrespective of his other heads of income.
4. In your case, if you are engaged in eligible profession specified u/s 44AA, you can show 50% of your gross receipts as profit and free to show your salary income (Pension) and any other income under their respective heads.
5. Yes. ITR-4 should be filed.
Please correct me if the above interpretation has an alternative view.
Recent Topic
- CA FINAL FR IndAS 33 Doubt(Corrected)
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
Related Topics
CAclubindia
