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   What is section 44ADA?

   • Section 44ADA was introduced to extend the scheme of simplified presumptive taxation to specified professionals. Earlier, the presumptive scheme of tax was available only to small businesses. The presumptive scheme of taxation reduces the compliance burden on small professions and facilitates ease of doing business.

   Section 44ADA – Presumptive Tax Scheme for Professionals - ClearTax

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   What is the difference between Section 44AD & 44AE?

   • While Section 44ADA is for professionals Section 44AD and 44AE concerns small business taxpayers. Let us understand them in detail. Use Tax Calculator and get your taxes estimates in mins as per new budget In all cases, taxpayers can always declare taxable income higher than the prescribed income. No concession in payment of advance tax.

   Presumptive Taxation under Section 44AD, 44AE and 44ADA for ... - Cle…

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   Does section 44ADA require accounting books?

   • It must be noted that only revenues generated through specific professions mentioned in Section 44AA (1) qualify under the presumptive tax regime. Section 44ADA was included in the Income Tax Act as a component of the presumptive tax scheme. This said section does not require taxpayers to maintain accounting books.

   Section 44ADA - Presumptive Tax for Professionals - Groww

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   Who is eligible for a presumptive scheme under section 44ADA?

   • 3.2 A Chartered Accountant (specified professional under 44AA (1)) who is a partner in a CA firm and also provides consultancy services in his professional capacity would be eligible to opt for a presumptive scheme under section 44ADA as his receipt is a professional receipt for this section.

   Understanding Section 44ADA: Presumptive Tax for Professionals - Tax …

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2. cleartax.in › s › section-44adaSection 44ADA – Presumptive Tax Scheme for Professionals

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   Jul 12, 2024 · What is Section 44ADA of the Income Tax Act? Section 44ADA is a special provision for calculating the taxable income for small professionals in certain circumstances. Section 44ADA was introduced to extend the scheme of simplified presumptive taxation to specified professionals.

3. taxguru.in › income-tax › section-44ada-presumptiveUnderstanding Section 44ADA: Presumptive Tax for Professionals

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   Sep 20, 2023 · Section 44ADA of the Income Tax Act provides a unique Presumptive Taxation Scheme (PTS) tailored for professionals. This scheme simplifies tax calculations and compliance for eligible professionals, ensuring ease of doing business.

4. taxguru.in › income-tax › professionals-eligible-optProfessionals who are eligible to opt Section 44ADA - Tax Guru

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   May 16, 2022 · Discover which professionals are eligible to opt for Section 44ADA under the Income Tax Act. Learn about the classification of professionals, including Specified and Unspecified categories. Explore the list of professionals specified under Section 44AA(1) and understand the eligibility criteria for Section 44ADA.

5. Videos

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     Section 44ADA: Presumptive Taxation for Profession - Learn by Quicko

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     All About Presumptive Taxation Scheme For Professionals | Section 44ADA

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     Detailed and Simple Explanation of Section-44AD | 44ADA | Presumptive Taxation Scheme of Income Tax|

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6. cleartax.in › s › presumptive-taxation-under-sec-44Presumptive Taxation under Section 44AD, 44AE and 44ADA for ...

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   Jul 4, 2024 · Section 44ADA – Regular books of accounts are to be maintained and get them audited if income exceeds basic exemption limit. Is it Compulsory to Opt for a Presumptive Taxation Scheme for a Minimum Number of Years Once Opted in Year 1?

7. groww.in › p › taxSection 44ADA - Presumptive Tax for Professionals - Groww

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   Furthermore, they should find ways to make the most of this tax provision and save more on their annual income from the tax forefront. Section 44ADA of Income Tax Act is a presumptive tax scheme for professionals. Know more about its objectives, eligibility, rates, benefits, and exemptions.

8. www.taxbuddy.com › blog › section-44ada-what-is-theSection 44ADA: What is the Presumptive Taxation Scheme?

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   Feb 29, 2024 · To simplify tax filing and reduce the burden of maintaining detailed books of accounts, the government introduced Section 44ADA under the Income Tax Act, which offers a presumptive taxation scheme for eligible professionals.

9. taxguru.in › income-tax › section-44ada-presumptiveSection 44ADA – Presumptive Tax Scheme for Professionals

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   Jul 27, 2018 · Section 44ADA is inserted with effect from financial year 2016-17 and deals Special provision for computing profits and gains of profession on presumptive basis.