who can avail the benefits of above section, while submitting the ITR. My self working as consultancy in accounts and taking the lumsum amount as profession charges with deduction of 10%TDS at source. pl guide me, my self avail the benefit of 44ada while submitting the ITR. yearly receipt of Rs.800000/-
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Section 44ada
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Eligible Professions for section 44ADA:- Professions referred in Section 44AA of the Act viz. Medical/ Legal/ Engineering /Architect /Accountancy/Technical Consultancy/ Interior Decoration/ Film Artist/CA/CS./CMA
Whose Total Income does not exceed Rs 50 Lakhs in Previous Year
So, you can avail the benefit of section 44ADA!!
Dear Sir,
Thanks. which ITR form applicable to professions covered under section 44ada. Is there any audit
applicable to those who are filling return u/s 44ada.
1. ITR 4 for only income u/s. 44AD/A & IFOS; otherwise ITR 3
2. If assessed income declared less than 50% u/s. 44ADA, tax audit applicable; otherwise not.
Dear sir,
Pl refer above mail and advice me which code of nature of business is applicable to me u/s 44ada
Regards,
M v jewlikar
Thank You for the detailed reply My Dear Dhirajlal Rambhia Sir., 🙏🙏🙏🙏🙏
@ Jewlikar M...
What is nature of works...?
What is Your qualifications under Professional...?
What is nature of works...?
What is Your qualifications under Professional...?
Dear sir,
Thanks.
My qualification is m .Com. and working for consultancy in accounts .
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