Specialists stated within the segment will pay tax on their own gross receipts less than segment 44ADA, and they will opt for this plan only if their total income does not exceed Rs.seventy five lakhs/50 lakhs. 

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No concession in payment of advance tax. Similar shall be compensated in four installments According to common progress tax provisions

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Will I be authorized any deduction for any expenditure incurred for investments and insurance policies premium underneath Section 80C and 80D, if I go with presumptive taxation?

Section 44ADA provides a simple way of taxation for tiny pros. Portion 44ADA provides a scheme of presumptive taxation for gains and gains arising from professions mentioned beneath Section 44AA(1) from the Revenue Tax Act, 1961.

Deduction of remuneration will not be allowed Should the corporations income are taxed beneath the presumptive taxation section 44AD or 44ADA.

Their 44 cash offers for other currencies also are near to its counterparts’, and better than banks’ exchange costs.

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