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Can a professional with side business income claim 50% profit as part of section 44ADA while filing ITRs?
What if the real profit is more than 50%, let's say, 80%?
Is such a professional safe to claim 50% profit and enjoy the benefit as part of 44ADA?
Total turnover receipts are less than 50 lakhs per annum.
An salaried individual can declare additional income from specified professions under 44ADA at 50% of gross receipts irrespective of actual. This would be treated as final income.
