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Presumptive income section 44ADA

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neha

293 Points Posted on 18 July 2024

My query is that can a professional showing income u/s. 44ADA reduce the % of income shown from previous years.

for eg : the income u/s.44ADA in previous year was 70% of the total professional income, now can this be reduced to 50% in the current FY.

TIA

Replies (3)

Quick Summary

This discussion addresses whether professionals can reduce the percentage of income declared under Section 44ADA compared to previous years. While legally permissible, reducing this percentage might raise a slight suspicion from tax authorities. The consensus is that it's generally acceptable but warrants consideration.