28 August 2019
For a professional covered under 44ADA, gross receipts are 7,50,000.
So will offer 3,75,000 under 44ada...
Books of accounts under 44AA will be: No Tax audit: No
So if were are filling " balance sheet and pnl no accounts case f", is there a chance to receive notice for not maintaining books of accounts as income crosses Rs. 1,20,000...
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