Please explain 44ada with exam-pal
Jigar Thakkar (Accountant) (141 Points)
11 October 2016
Dear Expert
Please explain 44ADA with exam-pal
3 Replies
learner
(nil)
(243 Points)
Replied 11 October 2016
suppose you are indian resident, an lawyer having reciepts less than 50 lacs rupees in previous year then your income will be 50 % of ur reciepts or such higher sum that you have been claimed to earned, shall be deemed to be Income chargeable under head of profit and gains
learner
(nil)
(243 Points)
Replied 11 October 2016
for e.g in case 1=your professional reciepts is 44 lacs then your income will be 22 lacs which is subject to tax under head of profit and gain,
in case 2= your profession reciepts is 44 lacs but you have claimed or according to other circumstances ur income is 90% of ur professional reciepts than ur income subject to tax will be
in case 2= your profession reciepts is 44 lacs but you have claimed or according to other circumstances ur income is 90% of ur professional reciepts than ur income subject to tax will be
learner
(nil)
(243 Points)
Replied 11 October 2016
39.6 lacs under the head of profit and gains,i hope now u will able to understand this section
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