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section 44 ADA
x a partner in a CA firm he wants to opt for section 44 ADA whether he can claim deduction 50% of gross receipts hence share of profit is exempt in the hands of partner under section 10 (2A)?
Replies (2)
Yes... The Firm ll be opt presumptive scheme then the profit share is exempted In the hands of the Partners...
44ADA talks about professional receipts, whereas 10(2A) is share of profit of a firm. So, for other professional receipts 44ADA can be claimed, but for share of profit 10(2A) should be used.
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