20 June 2016
I am a bug attacker, i.e., IT consultant who finds issues in various websites and report to owner. In return I am getting lump sum amount based on my report. Now I want to file my IT return. Can I file it under section 44 AD? My income is Rs. 12 Lacs for FY 2015-16. Please reply asap.
21 June 2016
your income consider as professional, you have to maintain the books of a/c . for F Y 2016-17 you can file return and declare the 50% of income of you receipts
24 June 2016
Thanx for your response. But i am very well informed about latest amendment in Budget 2016 about section 44 ADA. But I want to know about what if I earned income in FY 2015-16?
25 June 2016
The very fact that the new section has come from financial year 2016-17 means IT was not there for financial yer 2015-16. What you can do is you may file the return for the financial year on the similar lines........
CAclubindia
