I'm a Artist,Painting sold by me,can I filed my return under presumptive income u/s 44Ada?
Replies (6)
Quick Summary
This discussion clarifies whether artists can file their tax returns under the presumptive income scheme, specifically Section 44ADA. It explains that while film artists may be eligible, general artists typically are not considered eligible professionals for this section. For artists who haven't maintained books of accounts, the alternative of filing under Section 44AD using bank statements and Form 26AS is suggested for income computation.
Guest
Artists are not eleigible professionals to take benefit of Sec 44ADA