44ADA

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Arya Hegde (Querist)
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02 June 2017 Dear Sir/Madame I have an income of say 2,00,000/- in Fy 2016-17 on which TDS u/s 194J is made at 10% i.e., 20k. and I have salary income of 2,50,000/-. Will I fall under the purview of tax audit if I want to declare my professional income's net profit as an amount a)below 1,00,000/- b) if i opt for presumptive taxation and declare at 50% of Gross receipts i.e., - 1,00,000/- c) if I declare the whole of Gross receipts as income i.e., 2,00,000/- Will I fall under the purview of tax audit under the 3 circumstances mentioned above??

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 June 2017 you can fall under tax audit only and only if in the first condition you salary plus profit is in excess of exempted limit. in other two cases no audit is applicable.

Arya Hegde

Arya Hegde (Querist)
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02 June 2017 Thank you, But my income exceeds Basic Exemption limit in all the three cases a) Salary 250k + say 99k = 349k b) S - 250k + 100k = 350k c) S - 250k + 200k = 450k

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