Presumptive income section 44ADA

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CS
155 Points Posted on 18 July 2024

My query is that can a professional showing income u/s. 44ADA reduce the % of income shown from previous years. 

for eg : the income u/s.44ADA in previous year was 70% of the total professional income, now can this be reduced to 50% in the current FY.

TIA

 

 

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On 18 July 2024 at 09:29 Report
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Quick Summary
This discussion addresses whether professionals can reduce the percentage of income declared under Section 44ADA compared to previous years. While legally permissible, reducing this percentage might raise a slight suspicion from tax authorities. The consensus is that it's generally acceptable but warrants consideration.

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SEO Sai Gr. Hosp.
121388 Points Posted on 18 July 2024

As such, legally OK but chance of little suspicion. 

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On 18 July 2024 at 14:30
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CS
155 Points Posted on 18 July 2024

Thank you sir for your prompt response

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On 18 July 2024 at 14:41
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SEO Sai Gr. Hosp.
121388 Points Posted on 18 July 2024

You are welcome.            

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On 18 July 2024 at 14:43

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