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Section 44ADA, not 44AD. 44AD is for businesses and has a presumptive taxable income of 8% of gross income. 44ADA is for (eligible) individuals and has a presu
by kranner 8y ago
Section 44ADA, not 44AD.
44AD is for businesses and has a presumptive taxable income of 8% of gross income. 44ADA is for (eligible) individuals and has a presumptive taxable income of 50% of gross income.
- kartickv 8y agoYou can change the 50% to the 8% by editing that parameter in the code. According to my CA, individuals might be eligible for both depending on what they do. It's not just for businesses. If you're providing a service, like a freelance programmer, it's 50%. But if you're building your own product, it's 8%. Or some such distinction. In any case, the script supports both; just change the parameter.