for eg. I am a chartered accountant and being a partner of the CA firm. I get a remuneration of Rs. 16 Lacs and interest amounting Rs. 10 Lacs for capital contribution. Thua this income will be considered as my business income.
And I do get client in my personal capacity which results to Rs. 10 Lacs income which will be considered as professional income(including TDs)
Now do help me with the form I need to get.... Can I get 44ada benefit for professional income of Rs. 10 Lacs.
4 Replies
Radhika Ajmera
(CA IN practice)
(163 Points)
Replied 06 October 2018
u should file ITR 3 as u have professional n business income both
Sajan Shukla
(56 Points)
Replied 06 October 2018
can I avail 44 Ada benefit for my professional income
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 07 October 2018
ITR 3 is applicable if Assessee get income from Partnership Firm. So, You ll file ITR 3 with Your partnership income and Proprietorship income.
Yes... You can opt sec 44ada for Your proprietorship Income.
Yes... You can opt sec 44ada for Your proprietorship Income.
Sajan Shukla
(56 Points)
Replied 07 October 2018
so I shall fill up form 3 for both business income and professional income under sec 44 Ada??
if yes then guide in which sheet of form 3 I shall fill 44 Ada details as I didn't any such option in form 3
if yes then guide in which sheet of form 3 I shall fill 44 Ada details as I didn't any such option in form 3
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