Presumptive taxation eligibility permits resident professionals with receipts below threshold to opt for simplified taxation. Eligibility under section 44ADA is limited to a resident assessee who is an individual or HUF carrying on a specified profession with gross receipts not ... Summary
Presumptive taxation eligibility permits resident professionals with receipts below threshold to opt for simplified taxation.
Eligibility under section 44ADA is limited to a resident assessee who is an individual or HUF carrying on a specified profession with gross receipts not exceeding the statutory threshold; specified professions include legal, medical, engineering or architectural, accountancy, technical consultancy, interior decoration and other professions as notified by the tax administration.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.