Is showing income above 50% compulsory for profession even if not opting for 44ada

Reena (Partner) (221 Points)

25 July 2018  

We are a partnership firm and our CA is insisting that we have to file under section 44ADA as our TDS is deducted under professional services. And if we show profit less than 50% then we have to have compulsory audit. He is aso insisting that that partner salary and interest is allowed to be deducted above the 50% profit. Our total gross receipts were around 21 Lakh.

He is saying that govt has started section 44ADA this year only and every other professional service should show profit above 50% or else get audited.

When I tell him not to opt for section 44 ADA he is saying that it is compulsory. Is he trying to dupe me into paying audit fees? What other section do we file under if we don't opt for section 44 ADA?

Please help.