How to save tax | Presumptive taxation for professionals | CA Neha Gupta | Sec 44ADA

In this video we are discussing about:-
How to save tax?
Sec 44ADA
presumptive taxation
How professionals can save tax?
Presumptive tax
Presuptive income u/s 44AD
44ada Income tax
Tax planning
Tax planning for professionals
Tax saving tips
section 44ada of income tax act

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[GAUTAMKUMAR-wcht]

Do we need to furnish bills for the 50% of the benefit if we want to claim? Like if I have 10 Lacs of gross receipts as freelance income, and according to this do I need to show expenses receipts for 5 lacs? Or is this benefit available available without furnishing receipts?

[steverichards]

Should the other 50% be withdrawn from bank and show the 50% as taxes? or should it be shown as some form of expense?

[rajeshmane]

Quite helpful information. Being a Specified professional, while filing ITR do we need to have a GST number registered in self name to avail the benefits under section 44ADA? Kindly advise.

[sumitmitra]

When & under what condition is advance tax to be paid if a person opts for Section 44ADA? is it per quarter or for the full year ? Pls clarify

[varungupta]

Can I ask one question.
Is it a guarantee under 44ADA that there would be no enquiry from the IT deptt if a professional declares a profit of >50% out of total professional income received?
What if the actual professional expenses amount to less than 50%, won't that be wrong and illegal?? Is it sort of an amnesty being offered to professionals?

[ashishkarna]

Thanks for your valuable insights...jst one query..can sebi registered investment advisor avail presumptive taxation benefits??

[ankitsomani]

Whether examiner fees can be shown under Persumptive income

[monis_learns]

M'am, does 'Retainer' Contract fall under the same category?

[ankitsomani]

Also whether freelancer provding Q&A services...whether Persumptive taxation can be adopted

[sujitsoni]

This is quite informative, but I read somewhere that we need to make sure that balansheet also justifies that you had only 50% income left rest 50% income is being spent as an expense, or else there is a possibility of default, is this correct ?

[cashubhampahuja]

thank you for the video 44Aa(1) not include film artist, as mentioned in video

hence they can't opt for 44ADA .
Do share any proviso if you are having
do

[techproductowner]

Mam your videos are so clear, I have a very specific scenario the answer is mixed from different people and resources

Corporate employee A - owns a flat in city x in his own name
employee A's Wife AW -owns a flat in city x only in her name ( A is not a co-owner )
employee A's Wife AW has signed a Registered rental agreement with employee A for 10 years (Registered legally agreement)
employee A is transmitting rent Inr 35000 as rent to wife AW in her solely owned account as per agreement
both A's and AW flat is same city and reachable distance.
Employee A declares his house as notionally occupied in portal (IT rule allows 2 house to be notionally occupied)

Can employee A take home loan interest benefit and HRA both ?

[MDboy-ok]

Great information basically koi bhi CA ye batata hi nahi h pta nahi kyu aur nahi pta to CA kse ban gae ye bhi ni pta 😛
Ek request h ise ITR file kse kre us par video banae please

[daily_shortdoze]

I have dual contracts as technical consultant. One with 28L and another's as 24L. I've 80c and home loan. Apart from 50%, can I claim rent tax savings or other?

[pankajlal]

Hi Neha thanks for the video, i am a IT professional and my client is in Canada. I raise the invoice for 30 days working. If my client transfers the income to my and my mom's joint account and can i file that income in my mother tax return.

[IrfanAhmad-noxr]

If I get cheque for professional income after TDS deducted.how much money has to be withdrawn from bank account for presumptive taxation.is it suppppsed to be always 50 %or it could be sometimes lesser than that

[youlist]

Graphic designer, 3D modeler specified profnls mein aa jayega na? Thank you for to the point video.

[naidukapil]

Hello Maam,

I'm an IT professional working in a MNC as a permanent employee. Do l fall under this category?

[ruchitajain]

What if a person is earning Income from abroad seated in India as a specified Professional . Do they need to file GST ?

[wildstonediaries]

Engineers working in software company can claim this ??