Tax

Section 44ADA

Also known as: Presumptive 44ADA

Presumptive taxation for certain professionals with income presumed at 50% of gross receipts.

Detailed Explanation

Section 44ADA provides a presumptive taxation framework for specified professionals up to notified limits, with income deemed at 50% of gross receipts. Reduces bookkeeping burden but may not suit all cases.

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Related Terms

Section 44AD

Income tax provision allowing presumptive taxation for eligible businesses with turnover up to ₹2 crore.

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Advance Tax

Quarterly tax payments made during the year for income not subject to TDS.

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