Income from outside India u/s 44 ADA

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One of My Client received amount every month from outside India.  Since, he is resident & received payment  for his profession.  He did designing work for his customer who is in outside india & they paid for the work.

 

     How do i show this income in ITR 3 u/s 44 ADA.

 

     Shall i take 50% of the received amount directly or take full payment and should file P&L, & Balance Sheet and reduce 50% as expenses.

 

     Kindly clarify me. 

Replies (3)

You have to declare full amount of receipt and offer minimum 50% as assessable value u/s. 44ADA. No need to segregate expenditures when income declared u/s. 44ADA.

 

Thank you for your reply Sir

Most Welcome ...              


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