Dhara asked 3 years ago
sir,
in turnover calculation – question related to presumptive basis i.e 44ad or 44ada :—-
i just want to confirm that whether assessee has to file under one of the section or both i,e 44ad and 44ada when he has both source of income?
and if assessee files under any one section then, how to decide under which section i,e business or profession under presumptive basis?
please clarify
1 Answers
Ravi Staff answered 3 years ago
if he has income from both source then apply both sections
if he is going for presumptive basis income or higher income for both no problem go for it
if he is going for less than presumptive for any one then audit will have to be done for whole assessee and both business and profession