44ADA INCOME TAX ON PROFESSIONALS, Income Tax

[puneet virmani]

IF A PROFESSIONAL BELOW 50 LACS DON'T WANT TO FILE UNDER 44ADA AND TAKE 50% AS TAXABLE INCOME , CAN HE / SHE FILE UNDER NORMAL BUSINESS @SAY 20% NET INCOME OF RECEIPTS (PROFIT APPROX) - ON ACTUALS AS PER INCOME AND EXPENDITURE ACCOUNT WITHOUT GETTING AUDIT UNDER 44AB.

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

In my view no.