CA Sakchi Jain Instagram – Pay zero tax!😱
The benefit of section 44ADA can be taken only by those specified professionals whose annual gross receipts are under Rs 50 lakh.
The limit is increased to INR 75 lakhs if the total amount received in cash does not exceed 5 percent of the total gross receipts of such previous year.
Professionals engaged in the following professions are eligible:
📌Interior decorations
📌Technical consulting
📌Engineering
📌Accounting
📌Legal
📌Medical
📌Architecture
📌Other professionals, as mentioned below:
1.Movie artists include producers, editors, actors, directors, music directors, art directors, dance directors, cameramen, singers, lyricists, story writers, screenplay or dialogue writers and costume designers
2.Authorised representative means a person who represents another person for a fee before a tribunal or any authority constituted under any law. It does not include an employee of the person so represented or a person who is carrying on the profession of accountancy
📌Any other notified professionals
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#taxation #incometax #casakchijain #professionals #taxsaving #explorepage | Posted on 20/Mar/2024 18:50:50
