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Home List Manuals Income TaxIncome Tax - Frequently Asked Questions (FAQs)FAQs on Tax on Presumptive Taxation Scheme This

Income Tax - Frequently Asked Questions (FAQs)

FAQs on Tax on Presumptive Taxation Scheme

Can a person who adopts the presumptive taxation scheme of section 44ADA claim any further deduction of expenses after declaring profit @ 50% of gross receipts?

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Ans.  No, a person who adopts the presumptive taxation scheme is deemed to have claimed all deduction of expenses. Any further claim of deduction is not allowed after declaring profit @ 50%. However the assessee can claim deduction under chapter VI-A

 

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