Hi Sir/Madam
Could someone please advise
whether teaching profession will be covered under Presumtive taxation
also the limit for FInancial year 2023-24
Thanks in advance
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Teaching profession - Is it cover under presumptive taxation
Replies (2)
Presumptive taxation scheme for professionals is governed by section 44ADA of the Income Tax Act, 1961, which applies to certain specified professions including legal, medical, engineering, architecture, accountancy, technical consultancy, and interior decoration. As of now, teaching profession is not included in the list of professions eligible for presumptive taxation under section 44ADA.
There are two seperate opinions on the same paragraph.
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