sec 44ADA presumptive taxation

Mahesh Ingole

44 Points Posted on 03 August 2019

Unspent amount not liable to tax

Kapadia Pravin

17264 Points Posted on 03 August 2019

Minimum is 50%. one can show more if it is

Barun Agarwal

Practice

34 Points Posted on 03 August 2019

Is there any clarification given anywhere that it is not taxable?

Kapadia Pravin

17264 Points Posted on 03 August 2019

sir under 44ADA actual or 50% whichever is more is taxable

Barun Agarwal

Practice

34 Points Posted on 03 August 2019

Some people in fraternity believes that if 50% which is not taxable need to be spent mandatorily.. If not spent than will be taxable

Kapadia Pravin

17264 Points Posted on 03 August 2019

it's not so

Durgesh Mourya

219 Points Posted on 04 August 2019

It is a Presumptive Income Tax. If you are calculating all Income and Expenditure then Better do Audit and Give Income Tax According to that.

The presumptive arrangement made for ease business and profession. If you are opting for Presumptive Income then you are accepting that you Income is 50% (in Profession).

Durgesh Mourya

219 Points Posted on 04 August 2019

It is a Presumptive Income Tax. If you are calculating all Income and Expenditure then Better do Audit and Give Income Tax According to that.

The presumptive arrangement made for ease business and profession. If you are opting for Presumptive Income then you are accepting that you Income is 50% (in Profession).