Section 44ADA Salary and Professional Income

ITR 409 views 1 replies

Niranjan Sanka

Contracts Manager

28 Points Joined January 2015

Dear Team,

My salary income is 23 lacs and professional income is 48 lacs. Can I claim presumptive taxation for professional income under Section 44ADA and file ITR4?? So, net taxable income is Salary uncome 23 lacs and 50% of professional income 48 lacs = 47 lacs which is under 50 lacs for ITR 4!! Please clarify.

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

196448 Points Joined July 2016

Yes, you can declare the income u/s. 44ADA, if your profession is eligible for the scheme, as your total receipts are 48 lakhs, which is within the prescribed limit.

You don't need to add salary income to your professional income for such eligibility.