If my gross income is more than 50Lakhs but income speratly from salary and professional income is less than 50Lakhs, Can I still avail presumative Taxation for my freelancing income?
Eg. My salary income is 40Lakhs and freelancing income is 17Lakhs. Still can I make my total Taxable Income as 48.5Lakhs?
Thanks
Vignesh
Menu
Presumptive taxation for salary and professional income
Replies (8)
What is your profession ?. It should be as per section 44AA of the Income Tax act .
I work as a engineering professional.
Yes, You are eligible to show your freelancing income under sec 44ADA as engineering profession is a specified profession as per Sec 44AA.
@ Ramaraju G
But his total gross receipts exceeds 50 lac , and as per ,44ADA total receipts should be less than 50 lac .
But his total gross receipts exceeds 50 lac , and as per ,44ADA total receipts should be less than 50 lac .
That includes salary income as he mentioned in the query. but here receipts from freelancing only need to consider.
44ADA is applicable as income is 17 Lakhs rupees
He has to offer atleast 50% of 17 lacs as his income under 44ada
Yes you can show 48.5 lacs
Recent Threads
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
- About CMP-08
Related Threads
CAclubindia
