Taxation in case of job change

148 views
User Avatar

student
48 Points Posted on 15 February 2021
In FY 2020-21, till December 2020 I was getting professional fees and i used to take benefit of 44ADA

However, from February 2021 I switched my company and I am a salaried person now

How will I compute my tax liability now.
Can I still take benefit of 44ADA?
0 Reply Share Follow
On 15 February 2021 at 11:19 Report
Replies (2)
Quick Summary
If you've recently changed from receiving professional fees to being a salaried employee, you can no longer claim benefits under section 44ADA. Your tax liability will now be calculated under normal salary provisions. You can still claim the standard deduction and other eligible deductions from 80C to 80U.

User Avatar

207 Points Posted on 15 February 2021
No you cannot claim benefit under section 44ADA as you are not carrying any eligible profession. you will now be covered under normal salary provisions and claim standard deduction along with other deductions under 80c to 80u
1 Reply
On 15 February 2021 at 12:00
User Avatar

student
48 Points Posted on 15 February 2021
Okay thanks
Reply
On 15 February 2021 at 12:01

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. GST IDS Refund – Statement 01A: Invoice Not
  2. TDS deposit code & TDS return
  3. AIS VS GST Mismatch- FY 2025-26
  4. Gross total income
  5. Export Compliance
  6. Sale of plots in open land
  7. Income tax query
  8. Best CA Inter coaching in laxmi nagar
  9. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  10. Unregistered Association of Persons (AOP) Agreemen

More recent discussions | Post

Related Topics :

Loading