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Section 44ADA - Cash Receipts
Can we offer cash receipts and also cash deposits into the bank account received as part of the profession for which we are offering income u/s 44ADA along with the total receipts out of which 50 percent are taxed?
Replies (2)
Yes u should definitely consider cash deposit while showing your professional income...cash cash deposit will form part of cash receipt only...suppose ur cash receipt are 100 rs and cash deposit is bank by you is 40 rs then u can take total receipt as 100 only as u can say that 40 rs deposited in Bank is from those 100 rs only
Alright. Thankyou for clearing my doubt. 👍🏻
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