1)i have photography business. Total receipt Rs. 600000 for 2018-19, can i opt 44ad if i show income 400000.
2) i also paid rent 7000 pm and have no own house. can i claim deduction 80GG.
1. Section 44 AD applicability is based on Turnover. If Turnover less than Rs 2 Crores in a financial year, you can opt presumptive taxation under section 44AD.
2. if you are not getting HRA benefit, you can claim max Rs 5000 pm as deduction under section 80GG.
I hope this is helpful for you.
CAclubindia
