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)
1 Replies
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 23 December 2020
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.
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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