Yes sir you can show both income under 44ADA
I am a radiologist- British citizen resident in India for past 15 years filing taxes in India. I have an income of about 40 lakhs from Indian hospital I also have income of another 29 lakhs from uk as I work online for a teleradiology company in uk. They directly pay into my ordinary Indian account-foreign inward remittance. Can I show my foreign income also under 44ada or is only my Indian income eligible for 44ada ? Thanks in advance
Yes you can avail the benefit of presumptive taxation scheme u/s 44ADA in respect to foreign income. Profits to be declared in the ITR is 50% of gross receipts or actual profit earned whichever is higher. If profits are less than 50% then you are required to maintain books of accounts and get them audited
Assuming your residential status as ROR
If you are having foreign assets, foreign bank accounts, foreign equity, any capital asset outside India etc., Schedule FA is applicable .If total income is more than Rs. 50 lacs Schedule AL is also applicable
For detailed discussion you may opt for phone consultation
Hello,
Yes you can report your income under the head 44ADA including income from foreign sources. However, you need to register under GST and apply for exemption under the same to have your turnover recorded under the specific business code which will enable you to sync the same in your Income tax return as well.
Feel free to write to us on [deleted] in case of any clarifications needed or call us at [deleted].
Thanks
CA Damini Agarwal
Witcorp India Advisors LLP