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TMI BlogPresumtive Tax - Benefit under 44ADAX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir/Madame, Is a pensioner engaged 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 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsultancy fee (besides the pension) claim TDS as deducted by the employer. If not, what percentage is deductible towards telephone bills and applicable items? Will you please clarify. V. Nagaraja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Delhi - Reply By MARIAPPAN GOVINDARAJAN - 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 S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 44AA(1) before claiming benefit u/s 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 he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce cannot be claimed.All exepnses like telephone ,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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Presumtive Tax - Benefit under 44ADA - Query Started By: - V Nagarajan Dated:- 28-7-2017 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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