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tax on estimated income for professionals

How to compute taxable profits and gains of profession on presumptive basis – Section 44ADA

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With effect from assessment year 2017-18, government has introduced section 44ADA to allow certain professional to calculate their tax liability based on their estimated or presumptive income.As stated in our earlier articles, benefits of presumptive taxation scheme can also be availed by a person who is in the business of plying, hiring or leasing of goods carriage and … [Read more...] about How to compute taxable profits and gains of profession on presumptive basis – Section 44ADA