Section 44ADA of IT ACT (Professional Income )
This query is : Resolved
Quick Summary
09 July 2020
Sir,
If a person adopts resumptive taxation scheme under section 44ADA (Professional income ) but he opts out of this scheme in any subsequent five years as he is no more having professional income OR he has left profession ,then what are consequesces.
Is there is no requirement to meet up with continuity of 5 years in case of presumptive professional income u/s 44ADA as is applicable and required in case of presumptive business income u/s 44AD.
Pls guide.
If a person adopts resumptive taxation scheme under section 44ADA (Professional income ) but he opts out of this scheme in any subsequent five years as he is no more having professional income OR he has left profession ,then what are consequesces.
Is there is no requirement to meet up with continuity of 5 years in case of presumptive professional income u/s 44ADA as is applicable and required in case of presumptive business income u/s 44AD.
Pls guide.
09 July 2020
Five years requirement etc is not applicable for 44ADA.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Missed uploading GST Invoice
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Additional trade name
- Visiting card purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
