21 December 2020
Assess sec 44ada source of income (professional income) 1.gross relceipts Rs:13 lacs in f.y 19-20.net profit declare 50%rs:6,50,000/- 2.cash gift to wife Rs:3 lacs payment through on bank mode added net profit. Question: Assess tax applicable profit on rs:6,50,000/- or Rs:9,50,000/-
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