44ADA
This query is : Open
13 July 2016
If my income is 100000 then how will it be computed in 44ADA? 50% of income?? 50000 will be charged to tax? or my net profit taking into consideration 50000 will be charged??
13 July 2016
you have a choice either to go by your actual profit OR follow the provision of section 44ADA
13 July 2016
50000 will be charged to tax.
13 July 2016
so it will be better na to go as per net profit? as 50% chargeable to tax is very high! and if we go by 44ADA do we need to submit balance sheet and maintain records??
13 July 2016
44ADA does NOT ask for books of accounts. So, if you want to go by 44ADA, declare a profit of 50% or more as the case may be
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