TaxTMI 
TaxTMI 
Presumtive Tax - Benefit under 44ADA
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....resumtive Tax - Benefit under 44ADA<br> Query (Issue) Started By: - V Nagarajan Dated:- 28-7-2017 Last Reply Date:- 3-8-2017 Income Tax<br>Got 2 Replies<br>Income Tax<br>Sir/Madame, Is a pensioner en....
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....gaged by Government for consultancy show his income as 50% of the total received and claim TDS as deducted by the employer? That is, a person earning ₹ 4 lakh as consultancy fee (besides the pen....
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....sion) claim TDS as deducted by the employer. If not, what percentage is deductible towards telephone bills and applicable items? Will you please clarify. V. Nagarajan Delhi Reply By MARIAPPAN GOV....
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....INDARAJAN: The Reply: Your query is not clear. Reply By Nandan Khambete: The Reply: Hii, You need to first ensure that your profession is covered under Section 44AA(1) before claiming benefit u/s ....
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....44ADA. If you are eligible to claim u/s 44ADA, you can declare Net profit at 50% of Receipts. However, TDS deducted by client is not a expense and hence cannot be claimed.All exepnses like telephone ....
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....,etc are assumed to be claimed once your opt for 44ADA benefit. You can claim set off of TDS Credits against tax payable on other taxable income<br> Discussion Forum - Knowledge Sharing ....