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Taxable amount for sec 44ada filer

Trusted Member
Joined: 3 years ago
Posts: 66
Topic starter  

Assess sec 44ada filed I.t return every year.

Source of professional income gross receipts Rs:10 lacs

2.sft code:004 cash deposit in bank account

Name of the SFT filer :sbi

Amount deposit 12 lacs.

Assess gross receipts Rs:10 lacs declare 50% Rs:5 lacs net profit sec 44ada


Assess taxable income applicable on declare net professional income Rs:5 lacs or cash deposit in bank  rs:12 lacs net income declare Rs:6 lacs in f.y.19-20 is correct procedure.

CA Riya
Member Moderator
Joined: 3 years ago
Posts: 45

Yes correct.

No link can be made for bank deposit with income.


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