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Editorial (Dr SS Agarwal, Dr K K Aggarwal)
3rd July 2016
 Presumptive Taxation: Medical Professionals can use the new section 44 ADA for their Income Tax Purpose

Section 44 ADA has been inserted after Section 44 AD of the Income Tax Act starting 1st April 2017:
44ADA. (1) Notwithstanding anything contained in sections 28 to 43C, 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 ( it includes medical profession)  and whose total gross receipts do not exceed fifty lakh rupees in a previous year, a sum equal to 50% 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 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”.
IMA's Viewpoint
  • This Section is for simplification of taxation for professionals.
  • It will reduce compliance burden on small professionals and will felicitate ease of doing profession.
  • It will also bring parity between small businessmen who enjoy Presumptive Taxation under section 44 AD. It will be applicable to individual doctors, their HUF and their partnership firm (for example Husband & Wife partnership). It will not be applicable to limited liability partnership.
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