I was employed in a private company for 3 months (Apr to Jun24)and received around 4Lakhs as gross pay after Income tax deductions. For next 3 months am unemployed. Now am working as a Consultant and will receive remuneration from Oct 24 to Mar24 - around 6Lakhs Gross.
Am I eligible to opt 44ADA. The LIC and medical insurance falls due in Feb 25 only whereas my employment ended in Jun 24. Will the LIC investements, Medical insurance u/s80D and PF deduction will be considered in computation of total income.
CAclubindia
