Section 44ADA & Tax Audit applicability
This query is : Resolved
29 September 2020
Respected Sir/Madam,
A person who is a CFA wants to claim Profit below the 50% of gross receipts during the year. He has not availed presumptive income section (Sec 44ADA)in any of the preceding years in his ITR. Should Tax audit applicable to him in current year considering the fact that he is claiming less profit mentioned u/s 44ADA?
Thank you
A person who is a CFA wants to claim Profit below the 50% of gross receipts during the year. He has not availed presumptive income section (Sec 44ADA)in any of the preceding years in his ITR. Should Tax audit applicable to him in current year considering the fact that he is claiming less profit mentioned u/s 44ADA?
Thank you
29 September 2020
Yes, Tax audit applicable to him in current year considering the fact that he is claiming less profit mentioned u/s 44ADA.
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