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.
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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