I am a doctor by profession and want to file my ITR under 44ada.
What I understand about this section is that I have to show 50% profit and pay tax then in that case
Do I need to keep all the receipts of expenses like rent, electricity bills, medicine purchase bills etc. and show that I have spent 50% for my profession?
Thanks
"Do I need to keep all the receipts of expenses like rent, electricity bills, medicine purchase bills etc. and show that I have spent 50% for my profession?"
No. Section 44ADA is for assessed income, without any books of accounts to be maintained.
Only records of estimated gross receipts should be provided, in case of any query.
Thank you Sir.
Most Welcome
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
