Please scrap Sec 44AD, Sec 44ADA and all Sections pertaining to Presumptive taxation as that is the most abused Section which gives the Assessee the freedom to declare lower profits without questions being asked. Otherwise amend the Section clearly to state that the Assessee should declare 8 percent of Turnover or actual Profit made whichever is higher. Also since the Assessee is required to maintain books of accounts under GST why should that be not removed from the presumptive taxation Section

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  • Ashok - 3 months ago

    Sec 44ADA has been introduced by this govt as a very prudent step for tax compliance without the hassles of keeping accounts by professionals with receipt of less than Rs.50 lakhs. Most such professionals find it very difficult to maintain books of accounts for small small expenses on recurring basis. It also leads to some undesirable ways to shown expenses. The motto of this govt is "ease of doing business and profession". And this is one of the best ways to do it. So section 44ADA must remain