Does the definition of gross receipt in 44ADA include salary plus gross amount from the service provided or is it just the gross amount from the service provided? Can I use 44ADA if salary + professional service gross amount exceeds 50 Lakhs but professional service gross amount doesn't exceed 50 Lakhs?
- For 44ADA it is only gross amount from service provided. 44ADA is available if gross amount is upto Rs. 50 lacs. Deemed income is 50% or actual profit margin whichever is higher.
- Check GST applicability also.
For detailed discussion, you may opt for phone consultation.
It is just gross amount of service provided.
Yes you can use.
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Thank you.
Dear Sir,
Income from Professional services and Income from Salary both are different thing. If there Prevails employer and employee relationship then that income will be taxable under the head salary otherwise in business Receipts.
Hope this will solve Your Query.
Thanks & Regards
Shiv Kumar Agarwal
