Who is eligible:
any person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board.
1. Total annual gross receipts do not exceed fifty lakh rupees
2. He offers minimum 50% of the gross receipt as his taxable income from his profession
3. No further deduction will be allowable under the provisions of sections 30 to 38.
Notwithstanding anything contained in sections 28 to 43C, https://itunes.red/ in the case of an assessee, being a resident in India, who is engaged in a profession referred to in sub-section (1) of section 44AA and whose total gross receipts do not exceed fifty lakh rupees in a previous year, a sum equal to fifty per cent of the total gross receipts of the assessee in the previous year on account of such profession or, as the case may be, a sum higher than https://adobereader.onl/ the aforesaid sum claimed to have been earned by the assessee, shall be deemed to be the profits and gains of such profession chargeable to tax under the head “Profits and gains of business or profession”. https://discord.software/