Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Sec 44Ada and sec 44aa

Ram Bhat (16 Points)

25 July 2018

Can a professional like a doctor
who has all along been filing returns maintaining book of accounts under sec 44aa now file returns under sec 44ada under presumptive scheme if his gross income doesnt exceed 50 lakh rupees pa?

Reply
Follow
Share

5 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14654 Points)
Replied 25 July 2018

Yes , respected Doctors can opt 44ADA presumptive scheme , If income dose not excced 50 Lacs

Upgrade to CAclubindia Pro. Subscribe Now!

rama krishnan (12234 Points)
Replied 25 July 2018

yes.. you can file under 44ADA presumptive taxation

Ram Bhat (16 Points)
Replied 25 July 2018

Thank you sir for the reply
but my question is, if the doctor has filed his returns in the previous assessment years by showing his books of accounts can he file his itr now without it under this section 44ADA ?.
In other words can the doctor literally stop maintaining accounts for expenditure when he opts for this sec from now on
thanks in advance for answers

Saifullah Khalid (Autodidact/Curious ) (633 Points)
Replied 26 July 2018

Originally posted by : Ram Bhat
	Thank you sir for the replybut my question is, if the doctor has filed his returns in the previous assessment years by showing his books of accounts can he file his itr now without it under this section 44ADA ?.In other words can the doctor literally stop maintaining accounts for expenditure when he opts for this sec from now onthanks in advance for answers

YES no problem at all with that..sec 44ADA was recently introduced ...from A.Y 2017-2018 (F.Y 2016-2017) , so how could doctors have availed this scheme before that ? so no problem...these special provisions are provided by the governmnet to make compliances too much easy for the assesses ... so YES " the assesse can literally stop maintaining accounts for expenditure etc " .The assesse just need to keep track of his professional receipts nothing else (for 44ADA turnover/gross receipts purpose ) ... Welcome to the hassle free world of presumptive taxation ...enjoy and be fully compliant...

P.S : This year is the first year when I can see that the ITD too is promoting "Presumptive taxations schemes " by sending SMSs to asseses and asking them to join/avail Presumptive Tax Scheme benefits and to e-file IT return in form-4 by 31.07.2018 ..... thats a welcome move ....