- Yes you can claim both the sections simultaneously. Rental income from property is taxable under the head income from house property.
For detailed discussion you may opt for phone consultation.
44AD & 44ADA
Hello, I earned around 23Lakhs from business (real estate, leasing activities), GST filing is done for the above mentioned gross receipt. I made around 12L from profession (freelancing IT consultant), during the last FY. Can I claim 44AD benefit for business income & 44ADA for professional income? Is it possible to claim 2 sections simultaneously in the same FY for filing taxes?
Asked 1 year ago in Income Tax
Yes, you can file ITR under 2 sections simultaneously. You will have to
Yes you can claim both 44AD and 44ADA
You can cannot claim presumptive income benefit under both provision legally as per section 44AD.
Hence, a person carrying on profession mentioned under section 44AA cannot claim benefit under section 44AD.
Hope you find the information helpful, if yes do rate if 5 and provide your valuable feedback for my improvement.
Thank you.
Yes, you can claim the benefits of Section 44AD and 44ADA simultaneously in your ITR for the above-mentioned businesses.
No as per law you can not claim both the benefit together
Better to club income of freelancing IT under 44AD since it covers software development and consultancy work and declare higher profit
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