Presumptive Taxation Query
Aakash Ramani (28 Points)
21 March 2023
is beauty parlour/salon service's gross receipts would be shown under section 44AD or 44ADA??
1 Replies
CA Rakesh Ishi
(Working at Private Company)
(8202 Points)
Replied 21 March 2023
Section 44ADA of the Income Tax Act provides a similar presumptive taxation scheme for professionals, including beauticians and salon service providers. Under this section, eligible professionals can declare their income based on a presumptive rate of profit of 50% of their gross receipts.
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