Taxtok by ca.bhanu on Instagram: "Earn ₹24 lakhs. Declare ₹12 lakhs under Section 44ADA. Pay minimal or zero tax. Many believe the remaining 50% automatically becomes tax-free or “explained”. That is incorrect. Section 44ADA only presumes minimum profit for tax computation. It does not certify expenses, savings, or future investments. Today, while filing returns, no questions are asked. Tomorrow, when money is invested or spent, the source will still be examined. Presumptive taxation simplifies
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MoneyWithRavinder on Instagram: "Section 44ADA of the Income Tax Act provides a presumptive taxation scheme for specified professionals — like: • Doctors • Lawyers • Architects • Accountants • Engineers • Designers • Consultants • Freelancers providing professional services (Basically, anyone in a notified profession.)"
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