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Section 44 ADA
Is Section 44ADA applicable to Tax Practioner ?
Replies (5)
Yes... ..
Thank you.
Applicable to all specified professionals as per 44aa which iner alia included accounts n person who give these sort of services
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Section 44ADA offers a scheme of presumptive taxation of profits and gains arising from professions mentioned under Section 44AA(1) of the Income Tax Act, 1961. The benefit of section 44ADA can be taken only by those specified professionals whose annual gross receipts are under Rs 50 lakh.
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