https://www.taxtmi.com/manuals?id=4088 A professional covered by section 44AA(1) cannot adopt the presumptive business scheme under section 44AD. Such a resident professional may instead opt for the presumptive taxation regime under section 44ADA, under which a prescribed proportion of gross receipts is treated as presumptive income, subject to a gross receipts threshold and special treatment when cash receipts are below a low proportion; non account payee cheques or bank drafts are treated as cash for this purpose. en-us Mon, 25 Dec 2023 10:41:00 +0530 Wed, 10 Jan 2024 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4088 A professional covered by section 44AA(1) cannot adopt the presumptive business scheme under section 44AD. Such a resident professional may instead opt for the presumptive taxation regime under section 44ADA, under which a prescribed proportion of gross receipts is treated as presumptive income, subject to a gross receipts threshold and special treatment when cash receipts are below a low proportion; non account payee cheques or bank drafts are treated as cash for this purpose. Manuals Income Tax Mon, 25 Dec 2023 10:41:00 +0530 https://www.taxtmi.com/manuals?id=4088