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Sec 44A of IT Act

Tax queries 146 views 1 replies

My son is a Software engineer .  He does consulting by himself.   Since as per IT act,  he is required to file tax returns, can he claim Presumptive taxation scheme under Sec 44 AD?  How does it apply ? How will his income be computed? (assuming his income is around 12 lakhs)

Replies (1)
Yep he can claim 44D.
show minimum income 8% of turnover in case of cash receipts. for non cash receipts 6%.
since upto 500000 , there is no tax better to show income below 500000 or near by 450000.

contact- jaykishanc @ gmail.com
for ITR filing.


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